SkyWest, Inc. (NASDAQ:SKYW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest, Inc.,. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. It provides passenger and air freight service and completes over 880 daily flights. SkyWest, Inc. operates regional airlines that offer scheduled passenger service to destinations in the United States, Canada, Mexico, and the Caribbean. SkyWest Airlines operates through partnerships with United Airlines (United), Delta Air Lines (Delta), American Airlines (American) and Alaska Airlines. ExpressJet Airlines operates through partnerships with United, Delta and American. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest, Inc., is headquartered in St. George, Utah. “

A number of other equities research analysts have also recently commented on the stock. Imperial Capital raised their price target on shares of SkyWest from $38.00 to $47.00 and gave the stock an “in-line” rating in a report on Tuesday, October 31st. Deutsche Bank AG raised their price target on shares of SkyWest from $47.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Cowen and Company raised their price target on shares of SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a report on Monday, October 2nd. ValuEngine upgraded shares of SkyWest from a “buy” rating to a “strong-buy” rating in a report on Monday, September 18th. Finally, BidaskClub cut shares of SkyWest from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and three have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.50.

Shares of SkyWest (SKYW) opened at $45.95 on Tuesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 1.09 and a current ratio of 1.24. The firm has a market cap of $2,379.57, a price-to-earnings ratio of 14.57 and a beta of 1.74. SkyWest has a 12-month low of $30.40 and a 12-month high of $48.45.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.03. The business had revenue of $831.93 million during the quarter, compared to analysts’ expectations of $817.43 million. SkyWest had a net margin of 6.46% and a return on equity of 14.87%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. research analysts anticipate that SkyWest will post 3.32 EPS for the current year.

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In other SkyWest news, insider Wade J. Steel sold 4,500 shares of the firm’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $47.00, for a total value of $211,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael B. Thompson sold 5,868 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $47.08, for a total transaction of $276,265.44. The disclosure for this sale can be found here. Insiders sold 12,134 shares of company stock worth $571,156 over the last ninety days. Insiders own 3.50% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the business. Amalgamated Bank lifted its stake in shares of SkyWest by 1.6% in the second quarter. Amalgamated Bank now owns 6,926 shares of the transportation company’s stock valued at $243,000 after buying an additional 110 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of SkyWest by 1.5% during the second quarter. SG Americas Securities LLC now owns 9,262 shares of the transportation company’s stock valued at $325,000 after purchasing an additional 133 shares in the last quarter. Stifel Financial Corp lifted its position in shares of SkyWest by 1.2% during the second quarter. Stifel Financial Corp now owns 18,898 shares of the transportation company’s stock valued at $662,000 after purchasing an additional 224 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of SkyWest by 0.6% during the second quarter. Texas Permanent School Fund now owns 37,774 shares of the transportation company’s stock valued at $1,326,000 after purchasing an additional 236 shares in the last quarter. Finally, Suntrust Banks Inc. lifted its position in shares of SkyWest by 3.5% during the second quarter. Suntrust Banks Inc. now owns 8,419 shares of the transportation company’s stock valued at $295,000 after purchasing an additional 286 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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