SkyWest (NASDAQ:SKYW) Stock Price Down 4% – Here’s Why

SkyWest, Inc. (NASDAQ:SKYW) shares were down 4% 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.

Analysts Set New Price Targets

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

SkyWest Stock Performance

The stock has a market cap of $4.17 billion, a P/E ratio of 17.66 and a beta of 1.96. 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 fifty day moving average of $104.49 and a 200 day moving average of $88.06.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The company had revenue of $912.79 million for 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%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.55 EPS. On average, equities analysts predict 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, CAO Eric Woodward sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $111.53, for a total value of $446,120.00. Following the transaction, the chief accounting officer now owns 44,426 shares of the company’s stock, valued at approximately $4,954,831.78. This represents a 8.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wade J. Steel sold 19,079 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $10,202,889.92. This represents a 16.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 92,467 shares of company stock valued at $10,082,596. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On SkyWest

A number of institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new stake in SkyWest during the 3rd quarter valued at $31,000. NBC Securities Inc. grew its holdings in shares of SkyWest by 1,368.0% during the third quarter. NBC Securities Inc. now owns 367 shares of the transportation company’s stock valued at $31,000 after buying an additional 342 shares in the last quarter. Kings Path Partners LLC acquired a new position in SkyWest during the second quarter valued at $42,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in SkyWest in the 2nd quarter worth about $54,000. Finally, CWM LLC boosted its position in SkyWest by 57.3% during the 2nd quarter. CWM LLC now owns 766 shares of the transportation company’s stock worth $63,000 after acquiring an additional 279 shares during the period. Hedge funds and other 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.