SkyWest (NASDAQ:SKYW) Sets New 12-Month High After Analyst Upgrade

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) reached a new 52-week high during trading on Tuesday after TD Cowen raised their price target on the stock from $95.00 to $120.00. TD Cowen currently has a buy rating on the stock. SkyWest traded as high as $105.38 and last traded at $104.00, with a volume of 27747 shares trading hands. The stock had previously closed at $99.24.

Separately, Raymond James lifted their price target on shares of SkyWest from $100.00 to $114.00 and gave the stock an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $101.33.

Institutional Investors Weigh In On SkyWest

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in shares of SkyWest during the 3rd quarter worth about $371,000. Assetmark Inc. boosted its stake in SkyWest by 12.4% during the 3rd quarter. Assetmark Inc. now owns 19,324 shares of the transportation company's stock worth $1,643,000 after acquiring an additional 2,138 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in SkyWest during the third quarter valued at approximately $628,000. Summit Global Investments bought a new stake in SkyWest in the third quarter valued at approximately $539,000. Finally, Principal Financial Group Inc. raised its holdings in SkyWest by 9.1% in the third quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company's stock worth $18,413,000 after purchasing an additional 18,047 shares during the period. Institutional investors own 81.30% of the company's stock.

SkyWest Stock Up 5.0 %

The company has a current ratio of 0.86, a quick ratio of 0.74 and a debt-to-equity ratio of 0.95. The firm's fifty day moving average price is $85.88 and its 200-day moving average price is $80.44. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 17.82 and a beta of 1.93.

SkyWest (NASDAQ:SKYW - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.24. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. The company had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. During the same period in the prior year, the company earned $0.55 earnings per share. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. Sell-side analysts predict that SkyWest, Inc. will post 6.96 earnings per share for the current year.

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.