SkyWest, Inc. (SKYW) Downgraded by BidaskClub

SkyWest, Inc. (NASDAQ:SKYW) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, July 31st.

A number of other research analysts have also weighed in on the company. ValuEngine raised SkyWest from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. TheStreet raised SkyWest from a “c+” rating to a “b-” rating in a report on Monday, May 22nd. Zacks Investment Research raised SkyWest from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Tuesday, May 2nd. Deutsche Bank AG lifted their target price on SkyWest from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Raymond James Financial, Inc. raised SkyWest from an “outperform” rating to a “strong-buy” rating in a report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and three have given a strong buy rating to the company’s stock. SkyWest presently has a consensus rating of “Buy” and a consensus price target of $41.67.

SkyWest (NASDAQ:SKYW) opened at 34.50 on Monday. The company’s market cap is $1.79 billion. SkyWest has a 52-week low of $25.04 and a 52-week high of $39.85. The stock has a 50 day moving average of $36.64 and a 200-day moving average of $35.55.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. SkyWest had a positive return on equity of 11.10% and a negative net margin of 4.59%. The company had revenue of $809.76 million during the quarter, compared to analyst estimates of $790.14 million. During the same quarter last year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts forecast that SkyWest will post $3.26 EPS for the current year.

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A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in SkyWest by 49,259.4% in the first quarter. BlackRock Inc. now owns 6,176,837 shares of the transportation company’s stock valued at $211,556,000 after buying an additional 6,164,323 shares during the period. Vanguard Group Inc. increased its position in SkyWest by 1.8% in the second quarter. Vanguard Group Inc. now owns 5,893,643 shares of the transportation company’s stock valued at $206,868,000 after buying an additional 105,193 shares during the period. Dimensional Fund Advisors LP increased its position in SkyWest by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,383,507 shares of the transportation company’s stock valued at $150,134,000 after buying an additional 16,894 shares during the period. Alliancebernstein L.P. increased its position in shares of SkyWest by 3.9% in the first quarter. Alliancebernstein L.P. now owns 2,996,901 shares of the transportation company’s stock valued at $102,644,000 after buying an additional 111,979 shares during the last quarter. Finally, State Street Corp increased its position in shares of SkyWest by 7.2% in the first quarter. State Street Corp now owns 1,375,036 shares of the transportation company’s stock valued at $47,093,000 after buying an additional 92,598 shares during the last quarter. Institutional investors own 90.32% of the company’s stock.

SkyWest Company Profile

SkyWest, Inc, through its subsidiaries, SkyWest Airlines, Inc (SkyWest Airlines) and ExpressJet Airlines, Inc (ExpressJet), operates regional airline operations in the United States. The Company’s segments include SkyWest Airlines, ExpressJet and SkyWest Leasing. The SkyWest Airlines segment provides regional jet service to airports primarily located in the Midwestern and Western United States, as well as Mexico and Canada.

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