SkyWest (SKYW) has risen sharply, recording gains of 3.42% in the past 4 weeks. However, the stock has corrected -2.33% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.91% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
SkyWest (NASDAQ:SKYW): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.46 and $27.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.28. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.10, notching a gain of 3.38% for the day. The total traded volume was 347,400 . The stock had closed at $27.18 on the previous day.
The stock has recorded a 20-day Moving Average of 0.38% and the 50-Day Moving Average is 7.1%. SkyWest Inc. is up 21.68% in the last 3-month period. Year-to-Date the stock performance stands at 48.35%.
SkyWest (SKYW) has been rated by 3 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $36 and the lowest price target forecast is $27. The average forecast of all the analysts is $31.67 and the expected standard deviation is $4.51.
Skywest, Inc. is a holding company for two North American regional airlines. The Company, through its subsidiaries, SkyWest Airlines, Inc. and ExpressJet Airlines, Inc., offers scheduled passenger service with approximately 3,600 daily departures to destinations in the United States, Canada, Mexico and the Caribbean. The Company operates through two segments: SkyWest Airlines and ExpressJet. The Companys flights are operated as Delta Connection, United Express, US Airways Express, American Eagle and Alaska. As of December 31, 2014, its consolidated fleet consisted of a total of 749 aircrafts of, which 425 were assigned to United, 239 were assigned to Delta, 29 were assigned to American, 15 were assigned to US Airways, nine were assigned to Alaska, two were subleased to unaffiliated entities and 30 were removed from service. The Company operates two types of regional jet aircrafts: the Bombardier Aerospace (Bombardier) regional jet and the Embraer S.A. (Embraer) regional jet.