Zacks Investment Research upgraded shares of SkyWest, Inc. (NASDAQ:SKYW) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning. Zacks Investment Research currently has $49.00 target price on the transportation company’s stock.

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 analysts have also recently issued reports on SKYW. Cowen and Company upped 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. ValuEngine raised shares of SkyWest from a buy rating to a strong-buy rating in a report on Monday, September 18th. Finally, BidaskClub lowered shares of SkyWest from a sell rating to a strong sell rating in a report on Tuesday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $44.17.

Shares of SkyWest (NASDAQ:SKYW) traded down 0.479% during midday trading on Tuesday, reaching $46.725. 443,373 shares of the company traded hands. SkyWest has a 12 month low of $27.45 and a 12 month high of $47.60. The company has a 50 day moving average of $38.23 and a 200 day moving average of $36.26. The firm’s market capitalization is $2.42 billion.

SkyWest (NASDAQ:SKYW) last released its quarterly earnings results on Thursday, July 27th. The transportation company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $790.14 million. During the same quarter last year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts predict that SkyWest will post $3.25 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 29th will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.68%. SkyWest’s dividend payout ratio (DPR) is -11.31%.

Institutional investors and hedge funds have recently made changes to their positions in 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 during the period. Bank of Montreal Can increased its stake in SkyWest by 10.0% during the first quarter. Bank of Montreal Can now owns 3,675 shares of the transportation company’s stock valued at $126,000 after purchasing an additional 334 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in SkyWest during the first quarter valued at $138,000. Riverhead Capital Management LLC increased its stake in SkyWest by 81.0% during the second quarter. Riverhead Capital Management LLC now owns 4,162 shares of the transportation company’s stock valued at $146,000 after purchasing an additional 1,862 shares during the last quarter. Finally, Flinton Capital Management LLC increased its stake in SkyWest by 73.1% during the second quarter. Flinton Capital Management LLC now owns 5,474 shares of the transportation company’s stock valued at $192,000 after purchasing an additional 2,312 shares during the last quarter. 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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