The stock of SkyWest, Inc. (NASDAQ:SKYW) hit a new 52-week high and has $47.82 target or 31.00% above today’s $36.50 share price. The 6 months bullish chart indicates low risk for the $1.94 billion company. The 1-year high was reported on Nov, 18 by Barchart.com. If the $47.82 price target is reached, the company will be worth $601.40M 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 44,462 shares traded hands. SkyWest, Inc. (NASDAQ:SKYW) has risen 74.63% since April 18, 2016 and is uptrending. It has outperformed by 70.20% 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 -32.88% below today’s ($36.5) stock price. SkyWest has been the topic of 12 analyst reports since July 31, 2015 according to StockzIntelligence Inc. On Friday, July 31 the stock rating was maintained by Deutsche Bank with “Buy”. The firm has “Outperform” rating by Raymond James given on Wednesday, January 6. The firm has “Buy” rating by Sidoti given on Thursday, December 17. Deutsche Bank maintained SkyWest, Inc. (NASDAQ:SKYW) rating on Friday, October 28. Deutsche Bank has “Buy” rating and $34 price target. The stock of SkyWest, Inc. (NASDAQ:SKYW) earned “In-Line” rating by Imperial Capital on Monday, August 3. The firm earned “Outperform” rating on Friday, April 29 by Cowen & Co. Cowen & Co maintained the stock with “Outperform” rating in Wednesday, October 21 report. Cowen & Co upgraded SkyWest, Inc. (NASDAQ:SKYW) on Friday, September 4 to “Outperform” rating. As per Tuesday, October 13, the company rating was downgraded by Raymond James. The firm earned “Buy” rating on Friday, July 31 by Evercore.
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 increased, 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.
Renaissance Ltd Liability Corporation has 0.02% invested in the company for 460,200 shares. Columbia Partners L L C Mgmt holds 0.39% or 196,170 shares in its portfolio. First Trust Advsr Limited Partnership accumulated 85,613 shares or 0.01% of the stock. Piedmont Advsr Limited Liability Company accumulated 104 shares or 0% of the stock. The New York-based Cipher L P has invested 0.13% in SkyWest, Inc. (NASDAQ:SKYW). Art Advsrs Ltd Liability Company reported 98,297 shares or 0.13% of all its holdings. Moreover, Gargoyle Advisor Ltd Limited Liability Company has 0.19% invested in SkyWest, Inc. (NASDAQ:SKYW) for 19,600 shares. Savings Bank Of Ny Mellon Corporation last reported 0.01% of its portfolio in the stock. Moreover, Metropolitan Life Insurance Com has 0.01% invested in SkyWest, Inc. (NASDAQ:SKYW) for 36,336 shares. Anchor Cap Advsrs Lc, a Massachusetts-based fund reported 42,000 shares. The California-based Tradewinds Global Invsts has invested 0.76% in SkyWest, Inc. (NASDAQ:SKYW). Aperio Gru Llc last reported 0.01% of its portfolio in the stock. Rhumbline Advisers accumulated 0.01% or 75,797 shares. Manufacturers Life Ins Company The, a Ontario – Canada-based fund reported 32,787 shares. Moreover, Nationwide Fund has 0.03% invested in SkyWest, Inc. (NASDAQ:SKYW) for 296,529 shares.
Insider Transactions: Since May 24, 2016, the stock had 1 insider buy, and 6 sales for $1.83 million net activity. Shares for $195,653 were sold by Vais Terry on Tuesday, May 24. Childs Russell A had sold 21,516 shares worth $619,446. On Friday, August 12 the insider Steel Wade J sold $265,380. 1,000 shares with value of $27,690 were bought by SIMMONS ROBERT J on Wednesday, August 10. $225,122 worth of SkyWest, Inc. (NASDAQ:SKYW) was sold by Thompson Michael B on Wednesday, August 31. ATKIN JERRY C also sold $310,050 worth of SkyWest, Inc. (NASDAQ:SKYW) shares.
More notable recent SkyWest, Inc. (NASDAQ:SKYW) news were published by: Prnewswire.com which released: “SkyWest, Inc. Reports Combined October 2016 Traffic for SkyWest Airlines and …” on November 08, 2016, also Prnewswire.com with their article: “SkyWest, Inc. Declares Quarterly Dividend” published on November 11, 2016, Prnewswire.com published: “SkyWest, Inc. Announces Second Quarter 2016 Profit” on July 28, 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 Fool.com‘s news article titled: “Why SkyWest, Inc. Shares Skyrocketed 17.6% in April” with publication date: May 10, 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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