The stock of SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week high and has $47.22 target or 56.00% above today’s $30.27 share price. The 8 months bullish chart indicates low risk for the $1.52B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $47.22 price target is reached, the company will be worth $851.20M 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. About 269,697 shares traded hands. SkyWest, Inc. (NASDAQ:SKYW) has risen 50.46% since April 5, 2016 and is uptrending. It has outperformed by 48.50% the S&P500.
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. As per Friday, October 28, the company rating was maintained by Deutsche Bank. The firm has “Market Perform” rating by Raymond James given on Tuesday, October 13. The stock has “Buy” rating given by Evercore on Friday, July 31. The stock of SkyWest, Inc. (NASDAQ:SKYW) has “In-Line” rating given on Monday, August 3 by Imperial Capital. The company was initiated on Thursday, December 17 by Sidoti. The rating was maintained by Cowen & Co on Wednesday, October 21 with “Outperform”. Deutsche Bank maintained SkyWest, Inc. (NASDAQ:SKYW) rating on Friday, July 31. Deutsche Bank has “Buy” rating and $20 price target. On Friday, September 4 the stock rating was upgraded by Cowen & Co to “Outperform”. The firm has “Outperform” rating given on Wednesday, January 6 by Raymond James. The firm has “Outperform” rating given on Friday, April 29 by Cowen & Co.
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 decreased to 1.12 in 2016 Q2. Its down 0.07, from 1.19 in 2016Q1. The ratio fall, 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.
Ajo Ltd Partnership has invested 0.03% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW). Alliancebernstein Lp has 0.05% invested in the company for 2.16 million shares. Gemmer Asset Mgmt Limited Liability accumulated 0% or 351 shares. Mufg Americas accumulated 0% or 1,407 shares. Us Savings Bank De holds 0% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW) for 38,460 shares. State Street reported 1.15 million shares or 0% of all its holdings. Grantham Mayo Van Otterloo And Limited Com owns 371,266 shares or 0.04% of their US portfolio. Victory Cap Management owns 1.06M shares or 0.11% of their US portfolio. Tiaa Cref Mngmt Lc has invested 0.01% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW). Moreover, Legal & General Gp Public Limited Co has 0% invested in SkyWest, Inc. (NASDAQ:SKYW) for 7,368 shares. Regions Financial Corporation accumulated 54,004 shares or 0.02% of the stock. Texas Permanent School Fund last reported 39,291 shares in the company. Moreover, Cornerstone Mngmt Hldgs Limited Liability Corporation has 0.05% invested in SkyWest, Inc. (NASDAQ:SKYW) for 237,515 shares. C M Bidwell Assocs Limited owns 19,255 shares or 0.13% of their US portfolio. Princeton Alpha Mgmt Limited Partnership holds 13,199 shares or 0.06% of its portfolio.
Insider Transactions: Since May 24, 2016, the stock had 1 buy, and 6 selling transactions for $1.83 million net activity. Another trade for 9,292 shares valued at $265,380 was made by Steel Wade J on Friday, August 12. The insider ATKIN JERRY C sold 13,000 shares worth $310,050. $27,690 worth of shares were bought by SIMMONS ROBERT J on Wednesday, August 10. The insider Childs Russell A sold $619,446. Another trade for 9,562 shares valued at $239,082 was sold by Vais Terry. Thompson Michael B sold $225,122 worth of SkyWest, Inc. (NASDAQ:SKYW) on Wednesday, August 31.
More notable recent SkyWest, Inc. (NASDAQ:SKYW) news were published by: Fool.com which released: “Why SkyWest, Inc. Shares Skyrocketed 17.6% in April” on May 10, 2016, also Prnewswire.com with their article: “Chip Childs to Succeed Jerry Atkin as SkyWest, Inc. CEO, Effective January 1, 2016” published on November 16, 2015, Fool.com published: “Why SkyWest, Inc. Stock Soared 12% in June” on July 07, 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 Prnewswire.com‘s news article titled: “SkyWest, Inc. Reports Combined September 2016 Traffic for SkyWest Airlines and …” with publication date: October 06, 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.
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