What Makes SkyWest (SKYW) a Strong Momentum Stock: Buy Now?

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: SkyWest (SKYW) - SkyWest currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting it is expected to outperform the market [3] Performance Metrics - Over the past week, SkyWest shares increased by 5.97%, significantly outperforming the Zacks Transportation - Airline industry, which rose by only 0.13% [5] - In a longer timeframe, SkyWest shares have risen by 6.54% over the past month, compared to the industry's 1.02% [5] - Over the last quarter, SkyWest shares increased by 5.65%, and over the past year, they surged by 99.39%, while the S&P 500 only moved 5.14% and 24.19% respectively [6] Trading Volume - The average 20-day trading volume for SkyWest is 368,876 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, three earnings estimates for SkyWest have been revised upwards, with no downward revisions, raising the consensus estimate from $8.35 to$9.01 [9] - For the next fiscal year, two estimates have also moved upwards, indicating positive sentiment [9] Conclusion - Given the strong performance metrics and positive earnings outlook, SkyWest is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment opportunity [11]