SkyWest (NASDAQ:SKYW) Sets New 12-Month High – Should You Buy?

Shares of SkyWest, Inc. (NASDAQ:SKYW) reached a new 52-week high on Wednesday . The stock traded as high as $117.51 and last traded at $115.92, with a volume of 25447 shares traded. The stock had previously closed at $115.11.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SKYW shares. Raymond James upped their price objective on SkyWest from $100.00 to $114.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen upped their price objective on SkyWest from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $119.00 price target on shares of SkyWest in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

SkyWest Stock Down 0.7 %

The firm has a 50-day moving average of $96.55 and a 200 day moving average of $84.36. 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 stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 19.68 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last issued its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, beating the consensus estimate of $1.92 by $0.24. The firm had revenue of $912.79 million during the quarter, compared to analysts’ expectations of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.55 earnings per share. As a group, sell-side analysts forecast that SkyWest, Inc. will post 7.16 earnings per share for the current fiscal year.

Insider Buying and Selling at SkyWest

In other SkyWest news, CEO Russell A. Childs sold 27,903 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $111.47, for a total value of $3,110,347.41. Following the sale, the chief executive officer now owns 349,548 shares in the company, valued at $38,964,115.56. This represents a 7.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Wade J. Steel sold 19,079 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $104.48, for a total value of $1,993,373.92. Following the completion of the sale, the insider now 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. Insiders have sold 92,467 shares of company stock worth $10,082,596 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On SkyWest

A number of large investors have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of SkyWest during the third quarter worth approximately $648,000. Wilmington Savings Fund Society FSB bought a new position in shares of SkyWest during the third quarter worth approximately $31,000. Sanctuary Advisors LLC bought a new position in shares of SkyWest during the third quarter worth approximately $233,000. Invst LLC increased its stake in shares of SkyWest by 39.1% during the third quarter. Invst LLC now owns 5,405 shares of the transportation company’s stock worth $460,000 after purchasing an additional 1,520 shares during the period. Finally, Hohimer Wealth Management LLC bought a new position in shares of SkyWest during the third quarter worth approximately $217,000. Institutional investors own 81.30% of the company’s stock.

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.