Sky Harbour Group Co. (NYSE:SKYH) Stock Has Average Target Price of $12.75 According to Brokerages

Shares of Sky Harbour Group Co. (NYSE:SKYH) have been given an average recommendation of “Buy” by the five ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $12.75.

A number of analysts have recently weighed in on SKYH shares. Roth Capital reissued a “buy” rating and issued a $12.50 price objective on shares of Sky Harbour Group in a research report on Tuesday, August 18th. Weiss Ratings raised Sky Harbour Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. BTIG Research restated a “buy” rating and issued a $13.00 price objective on shares of Sky Harbour Group in a research note on Monday, September 14th. Finally, Wall Street Zen raised Sky Harbour Group from a “strong sell” rating to a “sell” rating in a report on Sunday, September 20th.

Insider Transactions at Sky Harbour Group

In other Sky Harbour Group news, Director Andrew J. Gessow acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $10.85 per share, for a total transaction of $54,250.00. Following the completion of the transaction, the director directly owned 22,910 shares of the company’s stock, valued at $248,573.50. This represents a 27.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Francisco Gonzalez acquired 3,850 shares of the firm’s stock in a transaction on Friday, October 2nd. The shares were bought at an average cost of $9.25 per share, for a total transaction of $35,612.50. Following the completion of the acquisition, the chief financial officer owned 718,538 shares of the company’s stock, valued at approximately $6,646,476.50. This represents a 0.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 13,950 shares of company stock worth $139,568 in the last 90 days. Company insiders own 40.70% of the company’s stock.

Institutional Investors Weigh In On Sky Harbour Group

A number of large investors have recently modified their holdings of SKYH. Altai Capital Management L.P. acquired a new position in shares of Sky Harbour Group during the 2nd quarter valued at about $7,039,000. Bank of America Corp DE raised its stake in shares of Sky Harbour Group by 1.8% in the 1st quarter. Bank of America Corp DE now owns 374,021 shares of the company’s stock valued at $3,602,000 after acquiring an additional 6,545 shares during the period. RMR Capital Management LLC purchased a new stake in Sky Harbour Group in the first quarter valued at approximately $1,170,000. Squarepoint Ops LLC lifted its stake in Sky Harbour Group by 81.7% during the 2nd quarter. Squarepoint Ops LLC now owns 100,888 shares of the company’s stock worth $993,000 after acquiring an additional 45,349 shares in the last quarter. Finally, Yorkville Advisors Global LP grew its holdings in shares of Sky Harbour Group by 80.0% in the first quarter. Yorkville Advisors Global LP now owns 90,000 shares of the company’s stock valued at $867,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 14.75% of the company’s stock.

Sky Harbour Group Stock Performance

SKYH stock opened at $9.41 on Wednesday. The company’s fifty day moving average price is $10.28 and its 200-day moving average price is $10.01. Sky Harbour Group has a one year low of $8.22 and a one year high of $11.70. The company has a market capitalization of $721.15 million, a PE ratio of -52.29 and a beta of 1.35.

Sky Harbour Group (NYSE:SKYH) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.10. The business had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $9.44 million. Sky Harbour Group had a return on equity of 6.45% and a net margin of 2.73%. On average, research analysts predict that Sky Harbour Group will post -0.52 EPS for the current fiscal year.

Sky Harbour Group Company Profile

Sky Harbour Group Corporation develops and operates aviation infrastructure for business and general aviation. The company focuses on building and managing private hangar campuses designed to provide secure aircraft storage and related facilities for business aircraft owners and operators.

Its campuses typically offer dedicated aircraft hangars, office and support space, and other aviation-oriented amenities. Sky Harbour’s business model is centered on developing properties at strategically located airports and leasing or providing access to the facilities for private aviation customers.

The company is building a network of aviation campuses across the United States, with a focus on serving major metropolitan areas and regional business aviation markets.