Comerica Bank trimmed its position in SkyWest, Inc. (NASDAQ:SKYW – Get Rating) by 10.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,280 shares of the transportation company's stock after selling 4,525 shares during the quarter. Comerica Bank owned approximately 0.08% of SkyWest worth $692,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in SkyWest by 0.8% in the first quarter. BlackRock Inc. now owns 8,050,838 shares of the transportation company's stock worth $232,267,000 after purchasing an additional 63,516 shares during the period. Dimensional Fund Advisors LP grew its position in shares of SkyWest by 1.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,375,623 shares of the transportation company's stock worth $97,386,000 after buying an additional 64,082 shares during the period. State Street Corp grew its position in shares of SkyWest by 14.4% during the 1st quarter. State Street Corp now owns 2,442,697 shares of the transportation company's stock worth $70,472,000 after buying an additional 306,987 shares during the period. JPMorgan Chase & Co. grew its position in shares of SkyWest by 10.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 586,296 shares of the transportation company's stock worth $12,458,000 after buying an additional 53,574 shares during the period. Finally, Millennium Management LLC grew its position in shares of SkyWest by 55.3% during the 2nd quarter. Millennium Management LLC now owns 582,516 shares of the transportation company's stock worth $12,378,000 after buying an additional 207,329 shares during the period. 80.82% of the stock is currently owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. TheStreet lowered SkyWest from a "c" rating to a "d+" rating in a research report on Wednesday, November 16th. Deutsche Bank Aktiengesellschaft decreased their target price on SkyWest from $25.00 to $19.00 in a research report on Tuesday, December 20th. The Goldman Sachs Group assumed coverage on SkyWest in a research report on Friday, December 16th. They issued a "sell" rating and a $15.00 price objective for the company. StockNews.com assumed coverage on SkyWest in a research report on Wednesday, October 12th. They issued a "hold" rating for the company. Finally, Cowen decreased their price objective on SkyWest to $24.00 in a research report on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.60.
SkyWest Trading Up 1.3 %
NASDAQ SKYW opened at $20.26 on Friday. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 8.20 and a beta of 1.75. The stock's 50 day moving average price is $18.01 and its two-hundred day moving average price is $19.22. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.99 and a current ratio of 1.09. SkyWest, Inc. has a 52 week low of $14.76 and a 52 week high of $39.75.
SkyWest (NASDAQ:SKYW – Get Rating) last released its earnings results on Thursday, October 27th. The transportation company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.72 by $0.24. The firm had revenue of $789.44 million for the quarter, compared to analysts' expectations of $829.52 million. SkyWest had a return on equity of 5.35% and a net margin of 4.01%. As a group, analysts anticipate that SkyWest, Inc. will post 2.47 earnings per share for the current fiscal year.
SkyWest Profile
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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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