SkyWest (NASDAQ:SKYW) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

SKYW has been the topic of several other reports. Cowen lifted their target price on SkyWest from $63.00 to $66.00 and gave the company an “outperform” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded SkyWest from a “sell” rating to a “hold” rating and set a $69.00 target price on the stock in a research report on Monday, July 30th. Imperial Capital lifted their target price on SkyWest from $60.00 to $63.00 and gave the company an “inline” rating in a research report on Monday, July 30th. Finally, BidaskClub upgraded SkyWest from a “sell” rating to a “hold” rating in a research report on Friday, August 17th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. SkyWest currently has a consensus rating of “Buy” and a consensus target price of $63.60.

NASDAQ SKYW traded down $0.45 on Wednesday, hitting $59.40. 242,000 shares of the company traded hands, compared to its average volume of 227,649. The company has a market capitalization of $3.18 billion, a PE ratio of 17.32 and a beta of 1.65. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.97 and a current ratio of 1.11. SkyWest has a 52-week low of $40.64 and a 52-week high of $65.80.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, July 26th. The transportation company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.20. The company had revenue of $805.50 million for the quarter, compared to the consensus estimate of $795.19 million. SkyWest had a return on equity of 13.20% and a net margin of 14.73%. SkyWest’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. sell-side analysts forecast that SkyWest will post 4.91 EPS for the current year.

In other news, insider Wade J. Steel sold 17,731 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $59.89, for a total value of $1,061,909.59. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Russell A. Childs sold 17,056 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $59.90, for a total value of $1,021,654.40. The disclosure for this sale can be found here. Insiders sold 107,455 shares of company stock worth $6,468,863 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Chicago Equity Partners LLC purchased a new position in shares of SkyWest in the second quarter valued at about $1,749,000. Fort Washington Investment Advisors Inc. OH lifted its position in shares of SkyWest by 11.8% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 331,300 shares of the transportation company’s stock valued at $17,194,000 after acquiring an additional 35,000 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of SkyWest by 3.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 486,815 shares of the transportation company’s stock valued at $25,266,000 after acquiring an additional 16,932 shares in the last quarter. Swiss National Bank lifted its position in shares of SkyWest by 6.1% in the first quarter. Swiss National Bank now owns 22,600 shares of the transportation company’s stock valued at $1,229,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Natixis purchased a new stake in shares of SkyWest in the first quarter worth about $207,000. Institutional investors and hedge funds own 89.16% of the company’s stock.

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.

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