SkyWest (NASDAQ:SKYW) Trading Down 4% - Time to Sell?

SkyWest, Inc. (NASDAQ:SKYW - Get Free Report) shares were down 4% during mid-day trading on Monday . The company traded as low as $102.20 and last traded at $102.33. Approximately 111,676 shares were traded during trading, a decline of 72% from the average daily volume of 396,621 shares. The stock had previously closed at $106.60.

Wall Street Analysts Forecast Growth

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

SkyWest Stock Performance

The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $4.25 billion, a P/E ratio of 18.02 and a beta of 1.96. The stock has a fifty day moving average of $103.76 and a 200-day moving average of $87.63.

SkyWest (NASDAQ:SKYW - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million during the quarter, compared to the consensus estimate of $896.21 million. SkyWest had a return on equity of 11.02% and a net margin of 7.29%. SkyWest's quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the company earned $0.55 earnings per share. On average, research analysts anticipate that SkyWest, Inc. will post 7.16 EPS for the current year.

Insider Activity at SkyWest

In other news, insider Wade J. Steel sold 19,079 shares of the firm's 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 completion of the sale, the insider now directly owns 97,654 shares of the company's stock, valued at $10,202,889.92. This trade represents a 16.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert J. Simmons sold 16,485 shares of SkyWest stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.02, for a total value of $1,731,254.70. Following the sale, the chief financial officer now directly owns 113,539 shares of the company's stock, valued at approximately $11,923,865.78. The trade was a 12.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,467 shares of company stock valued at $10,082,596. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On SkyWest

Several hedge funds and other institutional investors have recently modified their holdings of the business. Glenmede Trust Co. NA increased its stake in shares of SkyWest by 0.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,835 shares of the transportation company's stock valued at $921,000 after purchasing an additional 98 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in shares of SkyWest by 1.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 8,298 shares of the transportation company's stock valued at $681,000 after purchasing an additional 152 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of SkyWest by 3.9% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,660 shares of the transportation company's stock valued at $465,000 after purchasing an additional 213 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of SkyWest by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,965 shares of the transportation company's stock valued at $1,803,000 after purchasing an additional 214 shares during the last quarter. Finally, CWM LLC increased its stake in shares of SkyWest by 57.3% in the 2nd quarter. CWM LLC now owns 766 shares of the transportation company's stock valued at $63,000 after purchasing an additional 279 shares during the last quarter. Institutional investors own 81.30% 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.