Zacks Investment Research upgraded shares of Swift Transportation Company (NYSE:SWFT) from a sell rating to a hold rating in a report released on Tuesday, July 18th.
According to Zacks, “Swift Transportation Co., LLC operates as a multi-faceted transportation services company primarily engaged in providing truckload carrier services in North America. The Company’s transportation services include dry van, dedicated, temperature controlled, cross border, and port drayage operations; rail intermodal; freight brokerage; and third-party logistics operations. The Company conducts its operations through major terminals positioned near major freight centers and traffic lanes in the United States and Mexico. Its fleet includes tractors, trailers and intermodal containers. Swift Transportation Co., LLC is headquartered in Phoenix, Arizona. “
A number of other equities analysts also recently weighed in on the stock. BidaskClub downgraded shares of Swift Transportation from a buy rating to a hold rating in a research note on Tuesday, July 11th. Bank of America Corporation reaffirmed a buy rating and issued a $31.00 target price (up from $29.00) on shares of Swift Transportation in a research note on Monday, July 10th. Stephens raised shares of Swift Transportation from an equal weight rating to an overweight rating and boosted their target price for the stock from $26.00 to $30.00 in a research note on Monday, June 12th. ValuEngine raised shares of Swift Transportation from a hold rating to a buy rating in a research note on Friday, June 2nd. Finally, Vetr raised shares of Swift Transportation from a buy rating to a strong-buy rating and set a $27.80 target price for the company in a research note on Monday, May 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $28.18.
Swift Transportation (NYSE SWFT) opened at 26.04 on Tuesday. Swift Transportation has a 12-month low of $18.05 and a 12-month high of $27.23. The company has a market capitalization of $3.49 billion, a PE ratio of 33.38 and a beta of 1.96. The stock has a 50 day moving average of $25.89 and a 200 day moving average of $23.52.
Swift Transportation (NYSE:SWFT) last announced its earnings results on Monday, July 24th. The transportation company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The company had revenue of $1,000 million during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts predict that Swift Transportation will post $0.98 EPS for the current year.
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In other Swift Transportation news, insider Richard Stocking sold 80,000 shares of Swift Transportation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $24.25, for a total value of $1,940,000.00. Following the transaction, the insider now owns 93,902 shares of the company’s stock, valued at $2,277,123.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Virginia Henkels sold 58,000 shares of Swift Transportation stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $24.16, for a total transaction of $1,401,280.00. Following the completion of the transaction, the chief financial officer now directly owns 45,748 shares in the company, valued at approximately $1,105,271.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,280 shares of company stock valued at $5,341,261. Corporate insiders own 44.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SWFT. TrimTabs Asset Management LLC raised its position in shares of Swift Transportation by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 5,013 shares of the transportation company’s stock worth $103,000 after buying an additional 2,360 shares during the last quarter. James Investment Research Inc. raised its position in shares of Swift Transportation by 51.5% in the first quarter. James Investment Research Inc. now owns 5,150 shares of the transportation company’s stock worth $106,000 after buying an additional 1,750 shares during the last quarter. Exane Derivatives bought a new position in shares of Swift Transportation during the first quarter worth $124,000. Ameritas Investment Partners Inc. bought a new position in shares of Swift Transportation during the first quarter worth $133,000. Finally, FNY Partners Fund LP raised its position in shares of Swift Transportation by 20,933.3% in the first quarter. FNY Partners Fund LP now owns 7,500 shares of the transportation company’s stock worth $154,000 after buying an additional 7,536 shares during the last quarter. 75.98% of the stock is currently owned by hedge funds and other institutional investors.
Swift Transportation Company Profile
Swift Transportation Company is a multi-faceted transportation services company. As of December 31, 2016, the Company operated fleets of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company’ segments include Truckload, Dedicated, Swift Refrigerated and Intermodal.
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