SkyWest (NASDAQ:SKYW) Price Target Lowered to $98.00 at TD Cowen

Key Points

• TD Cowen cut its price objective on SkyWest from $106 to $98 but maintained a "buy" rating, with the new target implying roughly a 16.5% upside from the stock's previous close.
• SkyWest recently beat quarterly expectations with EPS of $2.50 (vs. $2.15 expected) and $1.01B in revenue, yet the stock traded near $84.12 (close to its 52-week low) and carries a P/E of 8.09, suggesting potential value amid mixed analyst targets.

SkyWest (NASDAQ:SKYW - Get Free Report) had its price objective cut by analysts at TD Cowen from $106.00 to $98.00 in a research report issued on Monday, Marketbeat.com reports. The brokerage currently has a "buy" rating on the transportation company's stock. TD Cowen's price objective points to a potential upside of 16.50% from the stock's previous close.

A number of other equities analysts have also issued reports on the company. Cantor Fitzgerald set a $122.00 target price on SkyWest in a research note on Monday, January 26th. Weiss Ratings reissued a "buy (b-)" rating on shares of SkyWest in a report on Thursday, January 22nd. Finally, Citigroup cut their price objective on SkyWest from $112.00 to $101.00 and set a "neutral" rating on the stock in a report on Friday, March 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, SkyWest currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.20.

SkyWest Stock Performance

NASDAQ:SKYW traded down $1.97 during trading hours on Monday, hitting $84.12. 32,189 shares of the company were exchanged, compared to its average volume of 330,844. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.62 and a quick ratio of 0.55. SkyWest has a 52-week low of $84.00 and a 52-week high of $123.94. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.21 and a beta of 1.63. The company's 50 day moving average price is $95.56 and its 200-day moving average price is $98.74.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The transportation company reported $2.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.35. SkyWest had a net margin of 10.42% and a return on equity of 15.55%. The business had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $993.06 million. During the same quarter last year, the company posted $2.42 earnings per share. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, research analysts forecast that SkyWest will post 10.93 earnings per share for the current year.

Insider Buying and Selling at SkyWest

In other news, insider Wade J. Steel sold 20,629 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $106.53, for a total value of $2,197,607.37. Following the transaction, the insider directly owned 77,438 shares of the company's stock, valued at approximately $8,249,470.14. This represents a 21.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKYW. Caitong International Asset Management Co. Ltd grew its holdings in SkyWest by 480.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 261 shares of the transportation company's stock worth $26,000 after acquiring an additional 216 shares during the period. Transamerica Financial Advisors LLC grew its holdings in SkyWest by 273.6% during the fourth quarter. Transamerica Financial Advisors LLC now owns 269 shares of the transportation company's stock worth $27,000 after acquiring an additional 197 shares during the period. Salomon & Ludwin LLC acquired a new stake in SkyWest during the third quarter worth about $38,000. Johnson Financial Group Inc. acquired a new stake in SkyWest during the third quarter worth about $62,000. Finally, EverSource Wealth Advisors LLC grew its holdings in SkyWest by 118.5% during the second quarter. EverSource Wealth Advisors LLC now owns 625 shares of the transportation company's stock worth $64,000 after acquiring an additional 339 shares during the period. 81.30% of the stock is owned by institutional investors and hedge funds.

About SkyWest

SkyWest, Inc NASDAQ: SKYW is a regional airline holding company that provides air transportation services through its primary subsidiary, SkyWest Airlines. The company operates flights under capacity purchase agreements with major carriers such as United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. By specializing in regional connectivity, SkyWest links smaller communities to larger hubs using a fleet of regional jets and turboprop aircraft.

Headquartered in St. George, Utah, SkyWest oversees all aspects of its airline operations, including flight scheduling, crew training and aircraft maintenance.

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