Stock Worth Watching: After Making 52-Week High, Is SkyWest, Inc.’s Near-Term Analysis Positive?

Stock Worth Watching: After Making 52 Week High, Is SkyWest, Inc.'s Near Term Analysis Positive?

The stock of SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week high and has $39.43 target or 6.00% above today’s $37.20 share price. The 8 months bullish chart indicates low risk for the $1.95 billion company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $39.43 price target is reached, the company will be worth $117.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock closed at $37.2 during the last session. It is down 84.80% since April 22, 2016 and is uptrending. It has outperformed by 79.39% the S&P500.

Analysts await SkyWest, Inc. (NASDAQ:SKYW) to report earnings on February, 2. They expect $0.51 earnings per share, up 4.08% or $0.02 from last year’s $0.49 per share. SKYW’s profit will be $26.73 million for 18.24 P/E if the $0.51 EPS becomes a reality. After $0.90 actual earnings per share reported by SkyWest, Inc. for the previous quarter, Wall Street now forecasts -43.33% negative EPS growth.

SkyWest, Inc. (NASDAQ:SKYW) Ratings Coverage

Out of 6 analysts covering SkyWest (NASDAQ:SKYW), 5 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 83% are positive. SkyWest has been the topic of 12 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Cowen & Co maintained SkyWest, Inc. (NASDAQ:SKYW) rating on Wednesday, October 21. Cowen & Co has “Outperform” rating and $23 price target. The firm has “Outperform” rating given on Friday, April 29 by Cowen & Co. The rating was maintained by Deutsche Bank on Friday, July 31 with “Buy”. The rating was upgraded by Evercore on Friday, July 31 to “Buy”. On Thursday, December 17 the stock rating was initiated by Sidoti with “Buy”. The rating was maintained by Imperial Capital on Monday, August 3 with “In-Line”. The stock of SkyWest, Inc. (NASDAQ:SKYW) earned “Outperform” rating by Raymond James on Wednesday, January 6. Cowen & Co upgraded the stock to “Outperform” rating in Friday, September 4 report. On Tuesday, October 13 the stock rating was downgraded by Raymond James to “Market Perform”. Deutsche Bank maintained SkyWest, Inc. (NASDAQ:SKYW) rating on Friday, October 28. Deutsche Bank has “Buy” rating and $34 price target.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.19 in 2016 Q2. Its up 0.07, from 1.12 in 2016Q1. The ratio is positive, as 21 funds sold all SkyWest, Inc. shares owned while 63 reduced positions. 31 funds bought stakes while 63 increased positions. They now own 42.86 million shares or 9.81% less from 47.52 million shares in 2016Q1.
Teachers Retirement Of The State Of Kentucky accumulated 16,900 shares or 0.01% of the stock. The Missouri-based Towle Company has invested 6.63% in SkyWest, Inc. (NASDAQ:SKYW). Gemmer Asset Mgmt Limited owns 351 shares or 0% of their US portfolio. The Texas-based Texas Permanent School Fund has invested 0.01% in SkyWest, Inc. (NASDAQ:SKYW). Systematic Financial Limited Partnership holds 0.13% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW) for 369,160 shares. U S Global Investors last reported 0.87% of its portfolio in the stock. Blackrock Limited reported 38,681 shares or 0% of all its holdings. Alliancebernstein Limited Partnership reported 2.16 million shares or 0.05% of all its holdings. Massachusetts Ser Ma holds 0% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW) for 41,101 shares. Shell Asset Mgmt accumulated 0.02% or 24,984 shares. Petrus Trust Lta owns 9,136 shares or 0.05% of their US portfolio. Pinebridge Investments Lp holds 0.01% or 6,517 shares in its portfolio. Creative Planning has invested 0% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW). Moreover, State Board Of Administration Of Florida Retirement Sys has 0% invested in SkyWest, Inc. (NASDAQ:SKYW) for 46,546 shares. Tower Research Capital Limited (Trc) holds 0% or 197 shares in its portfolio.

Insider Transactions: Since June 7, 2016, the stock had 1 buy, and 5 sales for $1.63 million net activity. $27,690 worth of SkyWest, Inc. (NASDAQ:SKYW) shares were bought by SIMMONS ROBERT J. $310,050 worth of SkyWest, Inc. (NASDAQ:SKYW) was sold by ATKIN JERRY C. Vais Terry had sold 9,562 shares worth $239,082 on Tuesday, June 7. Steel Wade J had sold 9,292 shares worth $265,380. Shares for $619,446 were sold by Childs Russell A. Thompson Michael B sold 7,899 shares worth $225,122.

More notable recent SkyWest, Inc. (NASDAQ:SKYW) news were published by: Prnewswire.com which released: “SkyWest, Inc. Declares Quarterly Dividend” on November 08, 2016, also Fool.com with their article: “Why SkyWest, Inc. Shares Skyrocketed 17.6% in April” published on May 10, 2016, Prnewswire.com published: “SkyWest, Inc. Reports Combined October 2016 Traffic for SkyWest Airlines and …” on November 08, 2016. More interesting news about SkyWest, Inc. (NASDAQ:SKYW) were released by: Prnewswire.com and their article: “SkyWest, Inc. Announces Second Quarter 2016 Profit” published on July 28, 2016 as well as Fool.com‘s news article titled: “Why SkyWest, Inc. Stock Soared 12% in June” with publication date: July 07, 2016.

SKYW Company Profile

Skywest, Inc., incorporated on March 2, 1972, is a holding firm for approximately two scheduled passenger airline activities and an aircraft leasing company. The Firm operates through two divisions: SkyWest Airlines and ExpressJet. The Company, through its subsidiaries, SkyWest Airlines, Inc. (SkyWest Airlines) and ExpressJet Airlines, Inc. (ExpressJet), offers scheduled passenger service with approximately 3,400 daily departures to destinations in the United States, Canada, Mexico and the Caribbean. The Company’s flights are operated as Delta Connection, United Express, US Airways Express, American Eagle or Alaska under code-share arrangements with Delta Air Lines, Inc. (Delta), United Air Lines, Inc. (United), US Airways Group, Inc. (US Airways), American Airlines, Inc. (American) or Alaska Airlines, Inc. (Alaska), respectively.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment