According to Bloomberg, the eight research firms presently covering the company have given the stock of SkyWest, Inc. (NASDAQ: SKYW) a recommendation of “Hold” as the overall consensus rating for their company coverage. One analyst has indicated that the stock should be bought, three analysts have suggested that it be held, and one has recommended that it be sold. In addition, most investment firms that have recently updated their stock coverage have projected that it will reach $34.00 during the next year.
SKYW has compiled the input it has received from the various brokerage firms. Raymond James lowered its rating for the stock of SkyWest from “market perform” to “underperform” in a research note published on Thursday, September 8th. Deutsche Bank Aktiengesellschaft lowered their price target for SkyWest shares from $30.00 to $25.00 in a research report published on Friday, July 29th. In a research note published on Tuesday, November 1st, Cowen announced that they would lower their price objective for SkyWest shares to $24.00. In a research report published on November 16th by TheStreet, the company assigned a grade of “d-” to the shares of SkyWest. Last but not least, coverage of SkyWest shares was introduced by StockNews.com on October 12th, a Wednesday. They decided to maintain their “hold” rating for the company.
Recent events have caused a rebalancing of hedge fund holdings in SKYW. First, U.S. Global Investors Inc. raised its ownership in SkyWest by 42.1 percent over the year’s first three months. After making an additional purchase of 989,747 shares during the most recent quarter, U.S. Global Investors Inc. now has a total ownership stake in the transportation business equal to 3,338,647 shares for $96,320,000. During the first three months of 2018, Renaissance Technologies LLC increased its total interest in SkyWest to 1,409.6%. Following the acquisition of an additional 394,231 shares during the preceding quarter, Renaissance Technologies LLC now holds a total of 422,199 shares of the transportation business, which have a value of $12,180,000. Finally, as of the end of the third quarter, Federated Hermes Inc. had 546.4% more SkyWest shares than before. After making an earlier investment of 360,459 shares, Federated Hermes Inc. now holds a total of 426,424 of the transportation company’s shares, which are worth a combined total of $6,934,000. During the first three months of the year, Arrowstreet Capital Limited Partnership was able to expand its ownership in SkyWest by 187.5 percent. Following the acquisition of an additional 315,893 shares during the quarter, Arrowstreet Capital Limited Partnership now owns a total of 484,357 shares of the transportation company’s stock. The value of these shares is currently estimated to be $13,974,000. Finally, throughout the first three months of the year, State Street Corporation added 14.4% more stock in SkyWest to its holdings. Following the acquisition of an additional 306,987 shares over the period in question, State Street Corp. now holds a total of 2,442,697 shares of the transportation company’s stock, which have a value of $70,472,000. Hedge funds and other institutional investors own 84.91% of the company’s stock.
The NASDAQ SKYW started the trading day on Thursday at $17.75. The company’s stock is currently trading at a 50-day moving average of $17.52, while its 200-day moving average price is $21.10. The debt-to-equity ratio comes in at 1.24, the current ratio comes in at 1.09, and the quick ratio comes in at 0.99. The firm’s market capitalization is currently sitting at $898.11 million, its P.E. ratio is 7.19, and its beta is 1.78. The one-year low for SkyWest is $15.83, while the one-year high for the company is $44.83.
In addition to being the parent business of two passenger airlines and an aircraft leasing company, SkyWest, Inc. also operates as an airline. The airline businesses that are part of SkyWest conduct commercial flights in cities across North America, with nearly 3,000 flights occurring daily and over 53 million people being transported each year. SkyWest Airlines is a partner of United Airlines, Delta Air Lines, American Airlines, and Alaska Airlines, which makes it a member of their respective alliances.