SkyWest, Inc. (NASDAQ:SKYW) Stock Has Consensus Price Target of $113.00 According to Analysts

Key Points

• Analysts maintain a “Hold” consensus on SkyWest, with four hold ratings and one buy rating. The average 12-month price target is $113, compared with the stock’s opening price of $95.02.
• Recent analyst actions were mixed: TD Cowen kept a buy rating while cutting its target to $116, whereas Goldman Sachs downgraded SkyWest to neutral and reduced its target to $115.
• SkyWest missed quarterly expectations, reporting $2.54 in EPS versus the $2.70 consensus and $1.10 billion in revenue versus $1.11 billion expected. The board also authorized a $250 million share repurchase plan, covering up to 6.6% of outstanding shares.

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) has earned an average rating of "Hold" from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $113.00.

A number of analysts have recently weighed in on the stock. TD Cowen reduced their target price on shares of SkyWest from $123.00 to $116.00 and set a "buy" rating on the stock in a research report on Friday, October 2nd. Cantor Fitzgerald set a $116.00 price target on shares of SkyWest in a research report on Friday, October 2nd. Citigroup lifted their price target on shares of SkyWest from $95.00 to $105.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Weiss Ratings raised shares of SkyWest from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 16th. Finally, The Goldman Sachs Group lowered shares of SkyWest from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $126.00 to $115.00 in a research note on Thursday, July 2nd.

SkyWest Price Performance

Shares of SKYW stock opened at $95.02 on Tuesday. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.40 and a beta of 1.47. The business's fifty day moving average is $100.55 and its 200 day moving average is $95.32. SkyWest has a twelve month low of $77.89 and a twelve month high of $117.72. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 0.59.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The transportation company reported $2.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.70 by ($0.16). The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. SkyWest had a return on equity of 14.58% and a net margin of 9.78%. SkyWest's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.91 EPS. Research analysts expect that SkyWest will post 10.58 EPS for the current fiscal year.

SkyWest declared that its Board of Directors has authorized a share buyback plan on Thursday, July 23rd that allows the company to repurchase $250.00 million in outstanding shares. This buyback authorization allows the transportation company to purchase up to 6.6% of its shares through open market purchases. Share buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at SkyWest

In related news, VP Greg Wooley sold 17,726 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $108.55, for a total value of $1,924,157.30. Following the sale, the vice president owned 53,323 shares in the company, valued at $5,788,211.65. This represents a 24.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Wade J. Steel sold 22,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $111.44, for a total value of $2,451,680.00. Following the completion of the sale, the insider owned 55,438 shares in the company, valued at $6,178,010.72. The trade was a 28.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 115,226 shares of company stock valued at $12,855,192 over the last ninety days. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SKYW. BlackRock Inc. bought a new position in shares of SkyWest during the second quarter valued at $682,530,000. Dimensional Fund Advisors LP raised its position in shares of SkyWest by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,529,333 shares of the transportation company's stock worth $232,260,000 after purchasing an additional 20,678 shares during the last quarter. Owl Creek Asset Management L.P. boosted its stake in SkyWest by 2.6% in the 1st quarter. Owl Creek Asset Management L.P. now owns 326,332 shares of the transportation company's stock worth $29,967,000 after purchasing an additional 8,184 shares in the last quarter. Bank of New York Mellon Corp bought a new position in SkyWest in the 2nd quarter worth about $28,177,000. Finally, Bank of America Corp DE bought a new position in SkyWest in the 2nd quarter worth about $24,254,000. Hedge funds and other institutional investors own 81.30% of the company's stock.

About SkyWest

SkyWest, Inc is a regional airline holding company headquartered in St. George, Utah. Its principal subsidiary, SkyWest Airlines, provides scheduled passenger air service on behalf of major U.S. airlines through capacity purchase and codeshare agreements.

SkyWest Airlines operates flights under the United Express, Delta Connection, American Eagle and Alaska Airlines brands. Its services connect smaller and midsize communities with larger hub airports across the United States, with additional service to destinations in Canada and Mexico.

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