Swift Transportation Company (NYSE:SWFT) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Wednesday.
A number of other equities analysts have also weighed in on SWFT. Stephens lowered shares of Swift Transportation from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 11th. Knight Equity reiterated a “market perform” rating and issued a $27.00 price objective (up from $14.31) on shares of Swift Transportation in a research report on Tuesday, April 11th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Swift Transportation in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Vetr upgraded shares of Swift Transportation from a “hold” rating to a “buy” rating and set a $25.73 price objective on the stock in a research report on Tuesday, April 11th. Finally, Zacks Investment Research lowered shares of Swift Transportation from a “hold” rating to a “strong sell” rating in a research report on Thursday, April 13th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $28.18.
Swift Transportation (NYSE:SWFT) traded up 1.29% during mid-day trading on Wednesday, hitting $26.66. 753,316 shares of the stock traded hands. The stock has a market cap of $3.57 billion, a PE ratio of 34.18 and a beta of 1.96. The company has a 50 day moving average of $25.96 and a 200-day moving average of $23.65. Swift Transportation has a 12-month low of $18.05 and a 12-month high of $27.23.
Swift Transportation (NYSE:SWFT) last posted its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.02 billion. During the same period last year, the firm posted $0.34 EPS. Swift Transportation’s quarterly revenue was down 1.2% on a year-over-year basis. Equities research analysts forecast that Swift Transportation will post $0.98 earnings per share for the current year.
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In other news, CFO Virginia Henkels sold 20,325 shares of Swift Transportation stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $23.90, for a total transaction of $485,767.50. Following the completion of the transaction, the chief financial officer now owns 53,772 shares of the company’s stock, valued at approximately $1,285,150.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cary M. Flanagan sold 2,454 shares of Swift Transportation stock in a transaction on Friday, May 26th. The stock was sold at an average price of $23.93, for a total value of $58,724.22. Following the transaction, the insider now directly owns 6,743 shares of the company’s stock, valued at approximately $161,359.99. The disclosure for this sale can be found here. Insiders have sold a total of 221,280 shares of company stock valued at $5,341,261 in the last ninety days. Corporate insiders own 44.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Swift Transportation by 40,731.1% in the first quarter. BlackRock Inc. now owns 4,864,210 shares of the transportation company’s stock valued at $99,912,000 after buying an additional 4,852,297 shares during the period. Bank of New York Mellon Corp increased its position in Swift Transportation by 972.9% in the second quarter. Bank of New York Mellon Corp now owns 4,783,355 shares of the transportation company’s stock valued at $126,758,000 after buying an additional 4,337,518 shares during the period. Renaissance Technologies LLC purchased a new position in Swift Transportation during the first quarter valued at about $38,449,000. UBS Oconnor LLC purchased a new position in Swift Transportation during the first quarter valued at about $20,797,000. Finally, Alpine Associates Management Inc. purchased a new position in Swift Transportation during the second quarter valued at about $25,225,000. 75.22% of the stock is owned by institutional investors and hedge funds.
About Swift Transportation
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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