Sky Harbour Group Co. (NYSE:SKYH) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: Six brokerages give Sky Harbour Group a consensus “Moderate Buy” rating, with an average 12-month price target of $13.00.
• Insider activity was positive: Director Andrew J. Gessow purchased 5,000 shares for $44,750, increasing his ownership by 38.73%; insiders collectively own 40.70% of the company.
• Recent results fell short of expectations: Sky Harbour reported quarterly revenue of $8.72 million and a loss of $0.16 per share, missing analyst estimates for $9.96 million in revenue and a $0.11 per-share loss. Shares opened at $10.47, near the $13.00 analyst target.

Sky Harbour Group Co. (NYSE:SKYH - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $13.00.

A number of research analysts have issued reports on SKYH shares. Noble Financial upgraded shares of Sky Harbour Group to a "strong-buy" rating in a research note on Monday, May 18th. Roth Capital initiated coverage on shares of Sky Harbour Group in a research note on Friday. They set a "buy" rating for the company. Finally, Weiss Ratings raised shares of Sky Harbour Group from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, July 6th.

Insider Activity at Sky Harbour Group

In other news, Director Andrew J. Gessow bought 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $8.95 per share, for a total transaction of $44,750.00. Following the completion of the transaction, the director directly owned 17,910 shares in the company, valued at approximately $160,294.50. This represents a 38.73% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 40.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sky Harbour Group

Several hedge funds have recently added to or reduced their stakes in SKYH. BNP Paribas Financial Markets raised 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 valued at $49,000 after buying an additional 2,971 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Sky Harbour Group in the fourth quarter worth about $83,000. Quadrant Capital Group LLC acquired a new stake in Sky Harbour Group during the third quarter worth about $99,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sky Harbour Group by 68.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,639 shares of the company's stock worth $114,000 after acquiring an additional 4,721 shares during the period. Finally, Deutsche Bank AG raised its position in 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 acquiring an additional 1,357 shares in the last quarter. 14.75% of the stock is owned by hedge funds and other institutional investors.

Sky Harbour Group Stock Down 0.6%

Shares of NYSE:SKYH opened at $10.47 on Friday. The business's 50 day moving average is $9.70 and its 200 day moving average is $9.60. The stock has a market cap of $801.65 million, a P/E ratio of 261.88 and a beta of 1.32. Sky Harbour Group has a 52-week low of $8.22 and a 52-week high of $11.17.

Sky Harbour Group (NYSE:SKYH - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). Sky Harbour Group had a net margin of 63.95% and a return on equity of 6.83%. The firm had revenue of $8.72 million for the quarter, compared to the consensus estimate of $9.96 million. On average, sell-side analysts anticipate that Sky Harbour Group will post -0.54 EPS for the current fiscal year.

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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