Fintel reports that on August 31, 2023, Raymond James upgraded their outlook for Skywest (NASDAQ:SKYW) from Market Perform to Outperform .
Analyst Price Forecast Suggests 13.15% Downside
As of August 31, 2023, the average one-year price target for Skywest is 35.96. The forecasts range from a low of 20.20 to a high of $52.50. The average price target represents a decrease of 13.15% from its latest reported closing price of 41.40.
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The projected annual revenue for Skywest is 3,077MM, an increase of 6.54%. The projected annual non-GAAP EPS is 0.74.
What is the Fund Sentiment?
There are 458 funds or institutions reporting positions in Skywest. This is an increase of 9 owner(s) or 2.00% in the last quarter. Average portfolio weight of all funds dedicated to SKYW is 0.15%, an increase of 31.65%. Total shares owned by institutions decreased in the last three months by 12.21% to 40,227K shares. 
The put/call ratio of SKYW is 0.78, indicating a bullish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 3,129K shares representing 7.44% ownership of the company. In it's prior filing, the firm reported owning 3,680K shares, representing a decrease of 17.59%. The firm increased its portfolio allocation in SKYW by 51.26% over the last quarter.
U S Global Investors holds 1,508K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
JETS - U.S. Global Jets ETF holds 1,508K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 3,489K shares, representing a decrease of 131.31%. The firm increased its portfolio allocation in SKYW by 8.65% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,443K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 1,551K shares, representing a decrease of 7.46%. The firm increased its portfolio allocation in SKYW by 57.70% over the last quarter.
Bank of New York Mellon holds 1,384K shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 1,245K shares, representing an increase of 10.04%. The firm increased its portfolio allocation in SKYW by 87.01% over the last quarter.
Skywest Background Information
(This description is provided by the company.)
SkyWest, Inc. is the holding company for SkyWest Airlines and SkyWest Leasing, an aircraft leasing company. SkyWest Airlines has a fleet of nearly 450 aircraft connecting passengers to 227 destinations throughout North America. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines carrying more than 43 million passengers in 2019. Based in St. George, Utah, SkyWest continues to set the standard for excellence across the regional industry with exceptional value for customers, shareholders and more than 13,000 employees.
Additional reading:
- SkyWest, Inc. Announces Second Quarter 2023 Profit
- SkyWest, Inc. Announces First Quarter 2023 Results
- SkyWest, Inc. Announces Fourth Quarter and Annual 2022 Results
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