Price Change to Note: After Reaching Record High, Is SkyWest, Inc.’s Near-Term Analysis Positive?

Price Change to Note: After Reaching Record High, Is SkyWest, Inc.'s Near Term Analysis Positive?

The stock of SkyWest, Inc. (NASDAQ:SKYW) reached all time high today, Nov, 29 and still has $39.47 target or 4.00% above today’s $37.95 share price. This indicates more upside for the $1.95 billion company. This technical setup was reported by Barchart.com. If the $39.47 PT is reached, the company will be worth $78.00 million 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 218,057 shares traded hands. SkyWest, Inc. (NASDAQ:SKYW) has risen 79.26% since April 26, 2016 and is uptrending. It has outperformed by 74.00% 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 $26.21M for 18.60 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. The rating was upgraded by Cowen & Co to “Outperform” on Friday, September 4. The stock has “Buy” rating given by Deutsche Bank on Friday, July 31. The company was upgraded on Friday, July 31 by Evercore. As per Thursday, December 17, the company rating was initiated by Sidoti. The firm earned “Outperform” rating on Wednesday, October 21 by Cowen & Co. The firm earned “In-Line” rating on Monday, August 3 by Imperial Capital. Deutsche Bank maintained the shares of SKYW in a report on Friday, October 28 with “Buy” rating. Raymond James upgraded SkyWest, Inc. (NASDAQ:SKYW) on Wednesday, January 6 to “Outperform” rating. Raymond James downgraded the stock to “Market Perform” rating in Tuesday, October 13 report. Cowen & Co maintained the shares of SKYW in a report on Friday, April 29 with “Outperform” rating.

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 improved, 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.
Credit Suisse Ag last reported 70,599 shares in the company. Thrivent Fincl For Lutherans accumulated 69,530 shares or 0.01% of the stock. Suntrust Banks Inc reported 8,623 shares or 0% of all its holdings. Hsbc Holdg Public Limited owns 18,879 shares or 0% of their US portfolio. Oberweis Asset Management, a Illinois-based fund reported 87,900 shares. Dreman Value Mgmt L L C last reported 0% of its portfolio in the stock. Princeton Alpha Mngmt L P has 0.06% invested in the company for 13,199 shares. Landscape Capital Mgmt Ltd Liability Com last reported 24,500 shares in the company. Bancorporation Of Ny Mellon, a New York-based fund reported 958,333 shares. Nationwide Fund Advsrs has invested 0.03% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW). Engineers Gate Manager Lp accumulated 0.1% or 51,416 shares. Panagora Asset Mgmt has 100,660 shares for 0.01% of their US portfolio. Prudential Fincl owns 742,516 shares or 0.03% of their US portfolio. Profund Advsrs Lc last reported 16,780 shares in the company. Mufg Americas holds 0% of its portfolio in SkyWest, Inc. (NASDAQ:SKYW) for 1,407 shares.

Insider Transactions: Since June 7, 2016, the stock had 1 buy, and 5 sales for $1.63 million net activity. Steel Wade J sold 9,292 shares worth $265,380. Childs Russell A sold $619,446 worth of stock or 21,516 shares. Vais Terry sold 9,562 shares worth $239,082. $27,690 worth of SkyWest, Inc. (NASDAQ:SKYW) was bought by SIMMONS ROBERT J. Another trade for 13,000 shares valued at $310,050 was made by ATKIN JERRY C on Tuesday, June 14. Thompson Michael B sold $225,122 worth of stock or 7,899 shares.

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: “SkyWest, Inc. Declares Quarterly Dividend” published on November 08, 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.

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