Spouting Rock Asset Management LLC lifted its stake in SkyWest, Inc. (NASDAQ:SKYW – Get Rating) by 12.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 90,569 shares of the transportation company’s stock after acquiring an additional 10,032 shares during the quarter. SkyWest accounts for 2.8% of Spouting Rock Asset Management LLC’s investment portfolio, making the stock its 11th largest position. Spouting Rock Asset Management LLC’s holdings in SkyWest were worth $3,559,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Invesco Ltd. raised its position in shares of SkyWest by 348.7% during the third quarter. Invesco Ltd. now owns 1,011,046 shares of the transportation company’s stock worth $49,885,000 after acquiring an additional 785,706 shares during the last quarter. Alliancebernstein L.P. grew its holdings in SkyWest by 8.5% during the third quarter. Alliancebernstein L.P. now owns 3,350,003 shares of the transportation company’s stock valued at $165,289,000 after purchasing an additional 262,503 shares during the period. Morgan Stanley raised its position in SkyWest by 77.8% during the second quarter. Morgan Stanley now owns 333,359 shares of the transportation company’s stock valued at $14,358,000 after purchasing an additional 145,827 shares in the last quarter. Bank of New York Mellon Corp boosted its position in SkyWest by 5.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,595,835 shares of the transportation company’s stock valued at $128,080,000 after acquiring an additional 128,484 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of SkyWest by 88.7% during the 4th quarter. American Century Companies Inc. now owns 211,744 shares of the transportation company’s stock valued at $8,322,000 after acquiring an additional 99,511 shares during the period. 87.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on SKYW. Deutsche Bank Aktiengesellschaft reduced their target price on shares of SkyWest from $39.00 to $30.00 in a research note on Friday, April 29th. Zacks Investment Research raised SkyWest from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a research note on Tuesday, March 15th. StockNews.com initiated coverage on SkyWest in a report on Thursday, March 31st. They issued a “hold” rating on the stock. The Goldman Sachs Group cut their price objective on SkyWest from $62.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, April 7th. Finally, Raymond James lowered SkyWest from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 27th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $38.60.
SKYW stock traded down $0.63 during midday trading on Thursday, reaching $25.58. 578,425 shares of the company’s stock traded hands, compared to its average volume of 649,406. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.94 and a quick ratio of 0.81. The business has a 50-day moving average price of $28.10 and a two-hundred day moving average price of $35.48. The company has a market capitalization of $1.29 billion, a P/E ratio of 13.73 and a beta of 1.74. SkyWest, Inc. has a fifty-two week low of $22.78 and a fifty-two week high of $53.05.
SkyWest (NASDAQ:SKYW – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The transportation company reported $0.35 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.36. The business had revenue of $735.15 million during the quarter, compared to analysts’ expectations of $699.63 million. SkyWest had a return on equity of 6.95% and a net margin of 3.22%. The firm’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 EPS. As a group, research analysts forecast that SkyWest, Inc. will post 0.85 earnings per share for the current fiscal year.
SkyWest Company Profile (Get Rating)
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.
- Get a free copy of the StockNews.com research report on SkyWest (SKYW)
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