Raymond James Increases SkyWest (NASDAQ:SKYW) Price Target to $114.00

SkyWest (NASDAQ:SKYW) had its price objective boosted by Raymond James from $100.00 to $114.00 in a research note issued to investors on Friday morning, Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

SkyWest Stock Performance

NASDAQ:SKYW opened at $99.24 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.86 and a quick ratio of 0.74. The business has a fifty day simple moving average of $85.31 and a two-hundred day simple moving average of $80.20. SkyWest has a 1 year low of $41.96 and a 1 year high of $103.49. The company has a market capitalization of $3.98 billion, a P/E ratio of 16.96 and a beta of 1.93.

SkyWest (NASDAQ:SKYW) last released its earnings results on Thursday, October 31st. The transportation company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.24. The business had revenue of $912.79 million during 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 business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period last year, the business posted $0.55 earnings per share. On average, analysts expect that SkyWest will post 6.96 earnings per share for the current year.

Institutional Investors Weigh In On SkyWest

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. increased its holdings in SkyWest by 12.4% during the 3rd quarter. Assetmark Inc. now owns 19,324 shares of the transportation company’s stock valued at $1,643,000 after purchasing an additional 2,138 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of SkyWest during the 3rd quarter worth approximately $628,000. Summit Global Investments purchased a new position in shares of SkyWest during the 3rd quarter worth approximately $539,000. Principal Financial Group Inc. grew its holdings in shares of SkyWest by 9.1% during the 3rd quarter. Principal Financial Group Inc. now owns 216,574 shares of the transportation company’s stock worth $18,413,000 after acquiring an additional 18,047 shares during the period. Finally, Hanseatic Management Services Inc. grew its holdings in shares of SkyWest by 2.6% during the 3rd quarter. Hanseatic Management Services Inc. now owns 12,443 shares of the transportation company’s stock worth $1,058,000 after acquiring an additional 316 shares during the period. Institutional investors own 81.30% of the company’s stock.

SkyWest Company Profile

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.