Sky Harbour Group (NYSE:SKYH) Stock Rating Reaffirmed as "Buy" by BTIG Research

Key Points

• BTIG Research reaffirmed a “Buy” rating on Sky Harbour Group with a $13 price target, implying approximately 42.8% upside from the reported $9.10 share price. The analyst consensus remains “Buy,” with an average target of $12.75.
• Sky Harbour’s latest quarterly results beat expectations on adjusted EPS, reporting a loss of $0.04 versus the estimated loss of $0.14, although revenue was significantly below analyst estimates.
• Company insiders purchased 13,950 shares worth approximately $139,568 over the past 90 days, while institutional ownership stands at 14.75% and insider ownership at 40.70%.

Sky Harbour Group (NYSE:SKYH - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $13.00 price objective on the stock. BTIG Research's price objective suggests a potential upside of 42.83% from the stock's current price.

Other equities analysts have also issued reports about the stock. Weiss Ratings raised shares of Sky Harbour Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, October 8th. Roth Capital reissued a "buy" rating and issued a $12.50 target price on shares of Sky Harbour Group in a report on Tuesday, August 18th. Finally, Wall Street Zen raised shares of Sky Harbour Group from a "strong sell" rating to a "sell" rating in a report on Sunday, September 20th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Sky Harbour Group has a consensus rating of "Buy" and a consensus target price of $12.75.

Sky Harbour Group Stock Up 1.1%

SKYH stock opened at $9.10 on Thursday. Sky Harbour Group has a 12 month low of $8.22 and a 12 month high of $11.70. The firm has a market cap of $697.40 million, a P/E ratio of -50.57 and a beta of 1.35. The company's 50-day moving average price is $9.98 and its two-hundred day moving average price is $9.98.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.10. Sky Harbour Group had a net margin of 2.73% and a return on equity of 6.45%. The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $9.44 million. Equities analysts predict that Sky Harbour Group will post -0.52 EPS for the current year.

Insider Activity at Sky Harbour Group

In related news, Director Andrew Gessow purchased 5,000 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $10.85 per share, with a total value of $54,250.00. Following the acquisition, the director owned 22,910 shares of the company's stock, valued at $248,573.50. This trade represents a 27.92% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Francisco Gonzalez purchased 3,850 shares of the firm's stock in a transaction that occurred on Friday, October 2nd. The shares were bought at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the completion of the acquisition, the chief financial officer directly owned 718,538 shares in the company, valued at $6,646,476.50. The trade was a 0.54% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 13,950 shares of company stock worth $139,568 over the last ninety days. 40.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sky Harbour Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Altai Capital Management L.P. bought a new stake in shares of Sky Harbour Group during the 2nd quarter valued at approximately $7,039,000. Bank of America Corp DE grew its holdings in shares of Sky Harbour Group by 1.8% during the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company's stock valued at $3,602,000 after purchasing an additional 6,545 shares during the last quarter. Penbrook Management LLC grew its holdings in shares of Sky Harbour Group by 909.7% during the 3rd quarter. Penbrook Management LLC now owns 197,200 shares of the company's stock valued at $1,867,000 after purchasing an additional 177,670 shares during the last quarter. RMR Capital Management LLC bought a new stake in shares of Sky Harbour Group during the 1st quarter valued at approximately $1,170,000. Finally, Squarepoint Ops LLC grew its holdings in shares of Sky Harbour Group by 81.7% during the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company's stock valued at $993,000 after purchasing an additional 45,349 shares during the last quarter. 14.75% of the stock is owned by institutional investors.

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops, owns and operates private aviation hangar campuses at airports in the United States. The company focuses on providing purpose-built infrastructure for business aircraft owners and operators, with facilities designed to support the storage, maintenance and operation of private aircraft.

Its airport campuses generally include individual or multi-aircraft hangars, along with amenities such as pilot and crew lounges, office space, parking and other aviation-related services.