Sky Harbour Group Co. (NYSE:SKYH) Stock Has Consensus Price Target of $12.75

Key Points

• Analyst sentiment is generally positive: Five brokerages give Sky Harbour Group an average “Buy” rating, with a consensus 12-month price target of $12.75 versus the reported share price of $9.39.
• Insiders have been buying shares: Executives and directors acquired 13,950 shares worth approximately $139,568 over the past three months, while insiders collectively own 40.70% of the company.
• Recent performance was mixed: The company beat quarterly EPS expectations, reporting a loss of $0.04 per share versus the forecasted $0.14 loss, but revenue was only $0.01 million compared with estimates of $9.44 million; analysts expect a full-year loss of $0.52 per share.

Shares of Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) have received an average rating of "Buy" from the five brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $12.75.

Several equities analysts recently issued reports on SKYH shares. BTIG Research reaffirmed a "buy" rating and issued a $13.00 price objective on shares of Sky Harbour Group in a research report on Monday, September 14th. Weiss Ratings cut Sky Harbour Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, September 21st. Wall Street Zen raised Sky Harbour Group from a "strong sell" rating to a "sell" rating in a report on Sunday, September 20th. Finally, Roth Capital reaffirmed a "buy" rating and set a $12.50 price objective on shares of Sky Harbour Group in a research report on Tuesday, August 18th.

Insider Transactions at Sky Harbour Group

In related news, CFO Francisco Gonzalez purchased 3,850 shares of Sky Harbour Group stock in a transaction dated Friday, October 2nd. The stock was purchased at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the completion of the purchase, the chief financial officer directly owned 718,538 shares of the company's stock, valued at $6,646,476.50. The trade was a 0.54% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Andrew J. Gessow acquired 5,000 shares of the firm's stock in a transaction dated 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 completion of the acquisition, the director directly owned 22,910 shares of the company's stock, valued at $248,573.50. The trade was a 27.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 13,950 shares of company stock valued at $139,568. 40.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Sky Harbour Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKYH. Altai Capital Management L.P. purchased a new stake in shares of Sky Harbour Group during the 2nd quarter valued at about $7,039,000. RMR Capital Management LLC purchased a new position in shares of Sky Harbour Group in the first quarter worth approximately $1,170,000. Bank of New York Mellon Corp purchased a new position in shares of Sky Harbour Group in the second quarter worth approximately $472,000. Squarepoint Ops LLC grew its position in Sky Harbour Group by 81.7% during the second quarter. Squarepoint Ops LLC now owns 100,888 shares of the company's stock valued at $993,000 after buying an additional 45,349 shares during the period. Finally, Yorkville Advisors Global LP grew its position in Sky Harbour Group by 80.0% during the first quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company's stock valued at $867,000 after buying an additional 40,000 shares during the period. Hedge funds and other institutional investors own 14.75% of the company's stock.

Sky Harbour Group Stock Performance

Shares of Sky Harbour Group stock opened at $9.39 on Wednesday. The company has a 50-day simple moving average of $10.35 and a two-hundred day simple moving average of $10.01. The stock has a market capitalization of $719.84 million, a PE ratio of -52.19 and a beta of 1.35. Sky Harbour Group has a 52-week low of $8.22 and a 52-week high of $11.70.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.04) EPS for the quarter, beating analysts' consensus estimates 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. As a group, equities research analysts forecast that Sky Harbour Group will post -0.52 EPS for the current fiscal year.

About Sky Harbour Group

Sky Harbour Group Corporation develops and operates aviation infrastructure for business and general aviation. The company focuses on building and managing private hangar campuses designed to provide secure aircraft storage and related facilities for business aircraft owners and operators.

Its campuses typically offer dedicated aircraft hangars, office and support space, and other aviation-oriented amenities. Sky Harbour's business model is centered on developing properties at strategically located airports and leasing or providing access to the facilities for private aviation customers.

The company is building a network of aviation campuses across the United States, with a focus on serving major metropolitan areas and regional business aviation markets.

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