SkyWest (NASDAQ:SKYW) Given New $70.00 Price Target at Evercore ISI

SkyWest (NASDAQ:SKYW - Get Free Report) had its target price raised by research analysts at Evercore ISI from $60.00 to $70.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an "in-line" rating on the transportation company's stock. Evercore ISI's target price suggests a potential upside of 2.99% from the stock's previous close.

SKYW has been the topic of several other reports. 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 increased their price target for the company from $55.00 to $68.00 in a report on Monday, February 5th. TheStreet raised SkyWest from a "c" rating to a "b-" rating in a report on Friday, February 2nd. Finally, Raymond James increased their price target on SkyWest from $55.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.25.

SkyWest Stock Down 1.6 %

SKYW stock traded down $1.09 during midday trading on Thursday, hitting $67.97. The company's stock had a trading volume of 305,230 shares, compared to its average volume of 490,311. The company has a market cap of $2.74 billion, a PE ratio of 78.13 and a beta of 1.95. SkyWest has a 12 month low of $21.85 and a 12 month high of $70.33. The company has a current ratio of 0.90, a quick ratio of 0.80 and a debt-to-equity ratio of 1.21. The firm's 50-day moving average is $63.18 and its 200-day moving average is $51.88.

SkyWest (NASDAQ:SKYW - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The transportation company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.31. The business 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 firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.93) EPS. On average, equities research analysts forecast that SkyWest will post 6.39 earnings per share for the current fiscal year.

Insider Transactions at SkyWest

In other news, Director James L. Welch sold 2,000 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 56,067 shares in the company, valued at approximately $3,740,790.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On SkyWest

A number of institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC purchased a new stake in SkyWest in the 4th quarter worth $313,000. Transcendent Capital Group LLC purchased a new stake in SkyWest in the 4th quarter worth $52,000. Goldman Sachs Group Inc. increased its stake in SkyWest by 46.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 424,239 shares of the transportation company's stock worth $22,145,000 after buying an additional 134,066 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in SkyWest in the 4th quarter worth $532,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in SkyWest in the 4th quarter worth $396,000. Hedge funds and other institutional investors own 81.30% of the company's stock.

SkyWest Company Profile

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.