SkyWest, Inc. (SKYW) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of SkyWest, Inc. (NASDAQ:SKYW) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “SkyWest, Inc., through its wholly-owned subsidiary, SkyWest Airlines, Inc. , operates one of the larger regional airlines in the United States. SkyWest provides passenger and air freight service and completes over 880 daily flights. Pursuant to a joint marketing and code sharing agreement with Delta Airlines, Inc., SkyWest operates as a Delta Connection in certain SkyWest markets. SkyWest entered into a marketing and code sharing agreement with Continental Airlines, Inc. Which allows SkyWest to operate as a Continental Connection in certain markets in and out of Los Angeles. “

Several other research firms have also recently commented on SKYW. Cowen and Company boosted their price target on shares of SkyWest from $44.00 to $52.00 and gave the company an outperform rating in a report on Monday, October 2nd. ValuEngine upgraded shares of SkyWest from a buy rating to a strong-buy rating in a report on Monday, September 18th. Finally, BidaskClub cut shares of SkyWest from a hold rating to a sell rating in a report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $44.17.

Shares of SkyWest (NASDAQ:SKYW) traded up 0.65% on Wednesday, reaching $46.30. The company had a trading volume of 358,758 shares. The stock’s market capitalization is $2.40 billion. The company has a 50 day moving average price of $40.16 and a 200 day moving average price of $36.73. SkyWest has a 52-week low of $27.95 and a 52-week high of $47.60.

SkyWest (NASDAQ:SKYW) last posted its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.87 by $0.08. SkyWest had a negative net margin of 4.59% and a positive return on equity of 11.10%. The business had revenue of $809.76 million for the quarter, compared to analysts’ expectations of $790.14 million. During the same period in the previous year, the company posted $0.77 EPS. SkyWest’s revenue was up 1.1% on a year-over-year basis. On average, equities research analysts anticipate that SkyWest will post $3.25 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 5th. Investors of record on Friday, September 29th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Thursday, September 28th. SkyWest’s dividend payout ratio is presently -11.31%.

Large investors have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its holdings in SkyWest by 108.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 2,860 shares of the transportation company’s stock worth $100,000 after purchasing an additional 1,488 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in SkyWest in the first quarter worth $138,000. Riverhead Capital Management LLC boosted its holdings in SkyWest by 81.0% in the second quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock worth $146,000 after purchasing an additional 1,862 shares in the last quarter. Flinton Capital Management LLC boosted its holdings in SkyWest by 73.1% in the second quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock worth $192,000 after purchasing an additional 2,312 shares in the last quarter. Finally, Laurion Capital Management LP bought a new stake in SkyWest in the first quarter worth $202,000. Hedge funds and other institutional investors own 89.39% 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.

Analyst Recommendations for SkyWest (NASDAQ:SKYW)

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