SkyWest Inc. (SKYW) Sees Strong Trading Volume

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Shares of SkyWest Inc. (NASDAQ:SKYW) saw unusually-strong trading volume on Monday . Approximately 641,100 shares were traded during trading, an increase of 54% from the previous session’s volume of 415,839 shares.The stock last traded at $25.51 and had previously closed at $25.46.
Several equities analysts have recently commented on SKYW shares. Raymond James Financial Inc. upgraded shares of SkyWest from a “mkt perform” rating to an “outperform” rating in a research report on Wednesday, June 1st. Zacks Investment Research upgraded shares of SkyWest from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research report on Tuesday, August 2nd. Finally, Deutsche Bank AG upped their price target on shares of SkyWest from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, July 29th. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $28.40.
The firm has a 50 day moving average of $27.97 and a 200-day moving average of $24.43. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 9.20 and a beta of 1.69.

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SkyWest (NASDAQ:SKYW) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.10. SkyWest had a return on equity of 8.47% and a net margin of 4.63%. The company earned $801.34 million during the quarter, compared to analysts’ expectations of $764.04 million. During the same period in the prior year, the business earned $0.61 earnings per share. SkyWest’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts forecast that SkyWest Inc. will post $2.64 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, September 30th will be given a $0.05 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.20 annualized dividend and a dividend yield of 0.78%. SkyWest’s dividend payout ratio is 7.19%.
In other news, CEO Russell A. Childs sold 21,516 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $28.79, for a total value of $619,445.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert J. Simmons acquired 1,000 shares of SkyWest stock in a transaction dated Wednesday, August 10th. The stock was acquired at an average cost of $27.69 per share, with a total value of $27,690.00. The disclosure for this purchase can be found here. 4.00% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of SKYW. Emerald Acquisition Ltd. purchased a new position in shares of SkyWest during the second quarter valued at approximately $22,432,000. Alliancebernstein L.P. boosted its position in shares of SkyWest by 50.6% in the second quarter. Alliancebernstein L.P. now owns 2,163,104 shares of the company’s stock valued at $57,236,000 after buying an additional 727,060 shares during the period. Vanguard Group Inc. boosted its position in shares of SkyWest by 9.7% in the second quarter. Vanguard Group Inc. now owns 5,104,762 shares of the company’s stock valued at $135,073,000 after buying an additional 451,453 shares during the period. JPMorgan Chase & Co. boosted its position in shares of SkyWest by 144.8% in the second quarter. JPMorgan Chase & Co. now owns 746,037 shares of the company’s stock valued at $19,741,000 after buying an additional 441,228 shares during the period. Finally, Glenmede Trust Co. NA boosted its position in shares of SkyWest by 16.4% in the first quarter. Glenmede Trust Co. NA now owns 1,523,439 shares of the company’s stock valued at $30,452,000 after buying an additional 214,574 shares during the period. 87.00% of the stock is owned by institutional investors.
About SkyWest
Skywest, Inc is a holding company for approximately two scheduled passenger airline operations and an aircraft leasing company. The Company operates through two segments: SkyWest Airlines and ExpressJet. SkyWest Airlines provides regional jet and turboprop service to airports located in the Midwestern and Western United States.

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