Price Action Alert: Will SkyWest, Inc. Run Out of Steam Soon?

Price Action Alert: Will SkyWest, Inc. Run Out of Steam Soon?

The stock of SkyWest, Inc. (NASDAQ:SKYW) reached all time high today, Nov, 15 and still has $49.48 target or 39.00% above today’s $35.60 share price. This indicates more upside for the $1.89 billion company. This technical setup was reported by Barchart.com. If the $49.48 PT is reached, the company will be worth $737.10M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 108,510 shares traded hands. SkyWest, Inc. (NASDAQ:SKYW) has risen 70.83% since April 13, 2016 and is uptrending. It has outperformed by 66.90% 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. $34 is the highest target while $18 is the lowest. The $24.50 average target is -31.18% below today’s ($35.6) stock price. SkyWest has been the topic of 12 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Evercore upgraded the stock to “Buy” rating in Friday, July 31 report. The stock of SkyWest, Inc. (NASDAQ:SKYW) earned “Outperform” rating by Cowen & Co on Friday, September 4. The firm has “Buy” rating given on Friday, October 28 by Deutsche Bank. Imperial Capital maintained the shares of SKYW in a report on Monday, August 3 with “In-Line” rating. The rating was initiated by Sidoti with “Buy” on Thursday, December 17. The rating was maintained by Cowen & Co with “Outperform” on Wednesday, October 21. The rating was maintained by Cowen & Co on Friday, April 29 with “Outperform”. On Wednesday, January 6 the stock rating was upgraded by Raymond James to “Outperform”. The rating was downgraded by Raymond James to “Market Perform” on Tuesday, October 13. The firm earned “Buy” rating on Friday, July 31 by Deutsche Bank.

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 worsened, 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.
Swiss Bankshares holds 0% or 21,300 shares in its portfolio. Vident Advisory Limited Co holds 0.4% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW) for 107,774 shares. Voya Investment Limited Liability Corp has 0% invested in the company for 19,923 shares. Aperio Gru Limited Liability has 63,928 shares for 0.01% of their US portfolio. Stifel accumulated 64,865 shares or 0.01% of the stock. Moreover, U S Global Inc has 0.87% invested in SkyWest, Inc. (NASDAQ:SKYW) for 54,897 shares. Credit Suisse Ag holds 0% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW) for 70,599 shares. Shell Asset Mngmt Communication has invested 0.02% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW). Texas Permanent School Fund accumulated 39,291 shares or 0.01% of the stock. Moreover, Martingale Asset Mngmt Lp has 0.03% invested in SkyWest, Inc. (NASDAQ:SKYW) for 70,548 shares. First Personal Fincl last reported 0% of its portfolio in the stock. Cornerstone Capital Management Holdg has invested 0.05% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW). Teacher Retirement Systems Of Texas reported 1,777 shares or 0% of all its holdings. Kbc Grp Nv accumulated 0.02% or 63,203 shares. Principal Financial Grp, a Iowa-based fund reported 372,383 shares.

Insider Transactions: Since May 24, 2016, the stock had 1 buying transaction, and 6 insider sales for $1.83 million net activity. Vais Terry also sold $195,653 worth of SkyWest, Inc. (NASDAQ:SKYW) on Tuesday, May 24. ATKIN JERRY C had sold 13,000 shares worth $310,050. Shares for $619,446 were sold by Childs Russell A. 9,292 SkyWest, Inc. (NASDAQ:SKYW) shares with value of $265,380 were sold by Steel Wade J. $225,122 worth of SkyWest, Inc. (NASDAQ:SKYW) was sold by Thompson Michael B on Wednesday, August 31. Shares for $27,690 were bought by SIMMONS ROBERT J.

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