SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $116.76, but opened at $122.00. SkyWest shares last traded at $134.58, with a volume of 94,408 shares traded.
The transportation company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.59. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. During the same quarter in the previous year, the company posted $0.42 earnings per share.
SKYW has been the topic of a number of research analyst reports. TD Cowen raised their price target on SkyWest from $95.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Raymond James raised their target price on shares of SkyWest from $114.00 to $120.00 and gave the stock an "outperform" rating in a report on Monday, December 30th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and issued a $119.00 price target on shares of SkyWest in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, SkyWest currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.25.
View Our Latest Report on SKYW
In other SkyWest news, CFO Robert J. Simmons sold 16,485 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $105.02, for a total transaction of $1,731,254.70. Following the transaction, the chief financial officer now owns 113,539 shares in the company, valued at $11,923,865.78. This represents a 12.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.48, for a total value of $1,993,373.92. Following the sale, the insider now directly owns 97,654 shares in the company, valued at $10,202,889.92. This represents a 16.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of SKYW. NBC Securities Inc. grew its holdings in SkyWest by 1,368.0% during the 3rd quarter. NBC Securities Inc. now owns 367 shares of the transportation company's stock worth $31,000 after acquiring an additional 342 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in SkyWest in the third quarter valued at $31,000. Sound Income Strategies LLC bought a new position in SkyWest during the 4th quarter worth $50,000. GAMMA Investing LLC grew its position in shares of SkyWest by 47.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,365 shares of the transportation company's stock valued at $116,000 after buying an additional 437 shares during the last quarter. Finally, USA Financial Formulas increased its stake in shares of SkyWest by 63.7% in the fourth quarter. USA Financial Formulas now owns 1,180 shares of the transportation company's stock valued at $118,000 after buying an additional 459 shares during the period. 81.30% of the stock is currently owned by institutional investors and hedge funds.
The stock has a 50-day moving average price of $108.59 and a 200-day moving average price of $93.81. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.76. The company has a market capitalization of $5.12 billion, a P/E ratio of 21.92 and a beta of 1.98.
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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