Zacks Investment Research upgraded shares of SkyWest, Inc. (NASDAQ:SKYW) from a hold rating to a buy rating in a report published on Wednesday morning. Zacks Investment Research currently has $57.00 price target on the transportation company’s stock.

According to Zacks, “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. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with unmatched value for customers, shareholders and its nearly 17,000 employees. “

Several other brokerages also recently commented on SKYW. Imperial Capital increased their price target on SkyWest from $38.00 to $47.00 and gave the company an in-line rating in a report on Tuesday, October 31st. Cowen Inc increased their price target on SkyWest from $44.00 to $52.00 and gave the company an outperform rating in a report on Monday, October 2nd. Deutsche Bank AG increased their price target on SkyWest from $47.00 to $55.00 and gave the company a buy rating in a report on Thursday, October 26th. ValuEngine upgraded SkyWest from a buy rating to a strong-buy rating in a report on Monday, September 18th. Finally, BidaskClub downgraded SkyWest from a hold rating to a sell rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. SkyWest has a consensus rating of Buy and an average target price of $48.33.

SkyWest (NASDAQ SKYW) opened at $50.00 on Wednesday. SkyWest has a twelve month low of $30.40 and a twelve month high of $51.85. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $2,592.15, a P/E ratio of 15.87 and a beta of 1.74.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.98 by $0.03. SkyWest had a positive return on equity of 11.87% and a negative net margin of 4.15%. The company had revenue of $831.93 million for the quarter, compared to the consensus estimate of $817.43 million. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. equities research analysts forecast that SkyWest will post 3.32 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 29th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.32 annualized dividend and a dividend yield of 0.64%. SkyWest’s payout ratio is -12.26%.

In other news, Director Jerry C. Atkin sold 110,000 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $48.10, for a total value of $5,291,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Michael B. Thompson sold 1,476 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $51.45, for a total transaction of $75,940.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,164 shares of company stock worth $6,890,473. 3.50% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of SkyWest by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock worth $206,868,000 after acquiring an additional 105,193 shares during the last quarter. Victory Capital Management Inc. boosted its stake in SkyWest by 87.0% during the third quarter. Victory Capital Management Inc. now owns 1,420,063 shares of the transportation company’s stock worth $62,340,000 after buying an additional 660,859 shares in the last quarter. State Street Corp boosted its stake in SkyWest by 7.2% during the first quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock worth $47,093,000 after buying an additional 92,598 shares in the last quarter. Renaissance Technologies LLC boosted its stake in SkyWest by 10.0% during the second quarter. Renaissance Technologies LLC now owns 1,295,700 shares of the transportation company’s stock worth $45,479,000 after buying an additional 117,700 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in SkyWest by 2.8% during the third quarter. Ameriprise Financial Inc. now owns 1,243,724 shares of the transportation company’s stock worth $54,603,000 after buying an additional 33,310 shares in the last quarter. Institutional investors and hedge funds own 88.95% of the company’s stock.

WARNING: “SkyWest, Inc. (SKYW) Stock Rating Upgraded by Zacks Investment Research” was reported by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/skywest-inc-skyw-stock-rating-upgraded-by-zacks-investment-research/1727074.html.

SkyWest Company Profile

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.

Get a free copy of the Zacks research report on SkyWest (SKYW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

Receive News & Ratings for SkyWest Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SkyWest Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.