Sky Harbour Group Co. (NYSE:SKYH) Given Average Rating of "Buy" by Brokerages

Key Points

• Analysts have an average “Buy” rating on Sky Harbour Group, with two buy ratings and two strong-buy ratings among five brokerages. The average 12-month price target is $12.75, above the reported $10.05 opening price.
• Sky Harbour reported quarterly EPS of -$0.04, beating the consensus estimate of -$0.14, but revenue was just $0.01 million versus expectations of $9.44 million. Analysts expect a full-year loss of approximately $0.52 per share.
• Director Andrew Gessow purchased 5,000 shares worth $54,250, while insiders own 40.70% of the company and institutional investors hold 14.75%.

Shares of Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) have earned an average recommendation of "Buy" from the five brokerages that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.75.

SKYH has been the topic of several analyst reports. Roth Capital reissued a "buy" rating and set a $12.50 price objective on shares of Sky Harbour Group in a research note on Tuesday, August 18th. Noble Financial raised Sky Harbour Group to a "strong-buy" rating in a research note on Monday, May 18th. Wall Street Zen cut Sky Harbour Group from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, Weiss Ratings raised Sky Harbour Group from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, September 3rd.

Sky Harbour Group Stock Down 2.1%

Shares of NYSE:SKYH opened at $10.05 on Friday. The firm has a fifty day simple moving average of $10.46 and a two-hundred day simple moving average of $9.91. Sky Harbour Group has a 52 week low of $8.22 and a 52 week high of $11.70. The stock has a market capitalization of $770.03 million, a P/E ratio of -55.83 and a beta of 1.31.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last announced its earnings results on Wednesday, August 12th. The company reported ($0.04) earnings per share (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 analysts' expectations of $9.44 million. On average, analysts expect that Sky Harbour Group will post -0.52 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andrew Gessow acquired 5,000 shares of the company's stock in a transaction on Friday, August 14th. The stock was bought at an average cost of $10.85 per share, with a total value of $54,250.00. Following the completion of the purchase, the director directly owned 22,910 shares of the company's stock, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 40.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Sky Harbour Group

Several institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its stake in shares of Sky Harbour Group by 145.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,012 shares of the company's stock worth $49,000 after purchasing an additional 2,971 shares during the period. International Assets Investment Management LLC purchased a new stake in Sky Harbour Group in the 4th quarter worth about $83,000. Quadrant Capital Group LLC bought a new stake in Sky Harbour Group in the third quarter worth about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Sky Harbour Group by 68.2% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company's stock worth $114,000 after purchasing an additional 4,721 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Sky Harbour Group by 9.9% during the fourth quarter. Deutsche Bank AG now owns 15,007 shares of the company's stock valued at $135,000 after buying an additional 1,357 shares during the period. Institutional investors own 14.75% of the company's stock.

Sky Harbour Group Company Profile

Sky Harbour Group Inc is a U.S.-based real estate development and operating company focused on private aviation infrastructure. The company specializes in the acquisition, design and management of fixed-base operations (FBOs), aircraft hangarage and private terminals that serve business and general aviation operators. By providing expedited ground handling, concierge services and state-of-the-art facilities, Sky Harbour seeks to streamline the operations of private jet owners, fractional-ownership programs and charter operators while reducing congestion at major airports.

Through strategic leases and joint-venture partnerships, Sky Harbour has established a growing presence at key regional and metropolitan airports across the United States.

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