SkyWest’s (SKYW) “Outperform” Rating Reiterated at Cowen
Cowen restated their outperform rating on shares of SkyWest (NASDAQ:SKYW) in a report released on Thursday. They currently have a $61.00 target price on the transportation company’s stock, down from their prior target price of $66.00.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research reaffirmed a hold rating and set a $48.00 price objective on shares of SkyWest in a report on Monday, December 31st. Imperial Capital raised SkyWest from an in-line rating to an outperform rating and raised their price target for the stock from $58.00 to $63.00 in a research report on Friday, December 21st. BidaskClub downgraded SkyWest from a hold rating to a sell rating in a research report on Saturday, December 8th. ValuEngine downgraded SkyWest from a hold rating to a sell rating in a research report on Thursday, December 6th. Finally, Goldman Sachs Group initiated coverage on SkyWest in a research report on Monday, November 12th. They set a neutral rating and a $62.00 price target for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $63.43.
Shares of SKYW stock opened at $48.04 on Thursday. The firm has a market cap of $2.50 billion, a P/E ratio of 14.01 and a beta of 1.75. SkyWest has a 1 year low of $42.38 and a 1 year high of $65.80. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 1.43.
The company also recently declared a quarterly dividend, which was paid on Monday, January 7th. Shareholders of record on Monday, December 31st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 28th. SkyWest’s dividend payout ratio (DPR) is presently 11.66%.
A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its position in SkyWest by 4.2% during the third quarter. BlackRock Inc. now owns 7,269,832 shares of the transportation company’s stock valued at $428,192,000 after acquiring an additional 290,795 shares during the period. Vanguard Group Inc. lifted its stake in shares of SkyWest by 1.5% during the third quarter. Vanguard Group Inc. now owns 6,338,468 shares of the transportation company’s stock worth $373,336,000 after purchasing an additional 95,262 shares in the last quarter. Vanguard Group Inc lifted its stake in shares of SkyWest by 1.5% during the third quarter. Vanguard Group Inc now owns 6,338,468 shares of the transportation company’s stock worth $373,336,000 after purchasing an additional 95,262 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of SkyWest by 1.9% during the third quarter. Bank of New York Mellon Corp now owns 2,968,109 shares of the transportation company’s stock worth $174,822,000 after purchasing an additional 56,128 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of SkyWest by 8.4% during the third quarter. Renaissance Technologies LLC now owns 2,341,568 shares of the transportation company’s stock worth $137,918,000 after purchasing an additional 181,500 shares in the last quarter. 90.58% of the stock is owned by hedge funds and other institutional investors.
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.
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