SkyWest (NASDAQ:SKYW) Sets New 1-Year High at $71.50

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $71.50 and last traded at $71.46, with a volume of 242129 shares. The stock had previously closed at $69.13.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SKYW shares. Raymond James upped their price target on SkyWest from $55.00 to $65.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. TheStreet raised SkyWest from a "c" rating to a "b-" rating in a report on Friday, February 2nd. StockNews.com raised SkyWest from a "hold" rating to a "buy" rating in a report on Monday, February 5th. TD Cowen raised SkyWest from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $55.00 to $68.00 in a research note on Monday, February 5th. Finally, Evercore ISI boosted their price target on SkyWest from $60.00 to $70.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.25.

SkyWest Stock Performance

The company has a market capitalization of $2.88 billion, a P/E ratio of 82.05 and a beta of 1.95. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.90 and a quick ratio of 0.80. The company has a fifty day moving average price of $65.90 and a two-hundred day moving average price of $54.29.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.31. The company had revenue of $751.80 million for the quarter, compared to analysts' expectations of $758.41 million. SkyWest had a return on equity of 1.59% and a net margin of 1.17%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.93) earnings per share. Equities analysts forecast that SkyWest, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Activity at SkyWest

In related news, Director James L. Welch sold 2,000 shares of the company's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $66.72, for a total value of $133,440.00. Following the sale, the director now directly owns 56,067 shares in the company, valued at $3,740,790.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.50% of the stock is currently owned by company insiders.

Institutional Trading of SkyWest

Several institutional investors have recently added to or reduced their stakes in SKYW. Invesco Ltd. boosted its holdings in SkyWest by 40.6% in the third quarter. Invesco Ltd. now owns 923,722 shares of the transportation company's stock valued at $38,741,000 after acquiring an additional 266,762 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in SkyWest by 5,203.4% in the third quarter. EP Wealth Advisors LLC now owns 256,631 shares of the transportation company's stock valued at $10,763,000 after buying an additional 251,792 shares during the period. Clearbridge Investments LLC acquired a new position in SkyWest in the fourth quarter valued at approximately $12,773,000. Norges Bank acquired a new position in SkyWest in the fourth quarter valued at approximately $12,134,000. Finally, Goldman Sachs Group Inc. lifted its stake in SkyWest by 46.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company's stock valued at $22,145,000 after buying an additional 134,066 shares during the period. 81.30% of the stock is currently owned by institutional investors.

About SkyWest

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest's airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.