SkyWest, Inc. (NASDAQ:SKYW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $49.00 price target on the transportation company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.41% from the company’s previous close.

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 provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “

Other analysts have also issued research reports about the stock. ValuEngine lowered shares of SkyWest from a “strong-buy” rating to a “buy” rating in a research note on Monday, September 4th. BidaskClub downgraded shares of SkyWest from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Finally, Cowen and Company increased their target price on shares of SkyWest from $44.00 to $52.00 and gave the stock an “outperform” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and three have issued a strong buy rating to the company’s stock. SkyWest currently has an average rating of “Buy” and an average target price of $44.17.

Shares of SkyWest (NASDAQ SKYW) opened at 45.20 on Tuesday. The firm’s market cap is $2.34 billion. SkyWest has a 52 week low of $27.45 and a 52 week high of $45.50. The company’s 50-day moving average price is $37.94 and its 200 day moving average price is $36.18.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.08. The business had revenue of $809.76 million for the quarter, compared to analyst estimates of $790.14 million. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. SkyWest’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. On average, equities analysts anticipate that SkyWest will post $3.25 earnings per share for the current year.

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Several institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. grew its position in SkyWest by 108.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock valued at $100,000 after purchasing an additional 1,488 shares during the period. Bank of Montreal Can increased its stake in SkyWest by 10.0% during the 1st quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock valued at $126,000 after purchasing an additional 334 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in SkyWest during the 1st quarter valued at $138,000. Riverhead Capital Management LLC increased its stake in SkyWest by 81.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock valued at $146,000 after purchasing an additional 1,862 shares in the last quarter. Finally, Flinton Capital Management LLC increased its stake in SkyWest by 73.1% during the 2nd quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,312 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.

SkyWest Company Profile

SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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