BidaskClub Lowers Swift Transportation Company (SWFT) to Sell
BidaskClub downgraded shares of Swift Transportation Company (NYSE:SWFT) from a hold rating to a sell rating in a research report report published on Wednesday.
Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Swift Transportation from a hold rating to a strong-buy rating and set a $30.00 target price on the stock in a research note on Thursday, July 27th. Stifel Nicolaus reaffirmed a hold rating and issued a $27.00 target price on shares of Swift Transportation in a research note on Tuesday, July 25th. UBS AG 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 Tuesday, July 25th. 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. Finally, Stephens raised shares of Swift Transportation from an equal weight rating to an overweight rating and lifted their target price for the stock from $26.00 to $30.00 in a research note on Monday, June 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $28.18.
Shares of Swift Transportation (NYSE SWFT) traded up 2.28% on Wednesday, reaching $26.04. 1,103,416 shares of the company traded hands. Swift Transportation has a one year low of $18.05 and a one year high of $27.23. The stock has a market capitalization of $3.49 billion, a P/E ratio of 33.38 and a beta of 1.96. The stock’s 50 day moving average price is $25.89 and its 200-day moving average price is $23.52.
Swift Transportation (NYSE:SWFT) last issued its earnings results on Monday, July 24th. The transportation company reported $0.25 EPS for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities analysts forecast that Swift Transportation will post $0.98 earnings per share for the current fiscal year.
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In other news, insider Cary M. Flanagan sold 2,454 shares of the business’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $23.93, for a total transaction of $58,724.22. Following the sale, the insider now owns 6,743 shares in the company, valued at approximately $161,359.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Virginia Henkels sold 44,000 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $24.03, for a total transaction of $1,057,320.00. Following the sale, the chief financial officer now owns 29,247 shares in the company, valued at approximately $702,805.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 221,280 shares of company stock worth $5,341,261. Company insiders own 44.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in SWFT. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Swift Transportation during the first quarter worth approximately $224,000. Russell Investments Group Ltd. boosted its stake in shares of Swift Transportation by 20.2% in the first quarter. Russell Investments Group Ltd. now owns 385,755 shares of the transportation company’s stock worth $7,923,000 after buying an additional 64,906 shares during the period. Mesirow Financial Investment Management Equity Management boosted its stake in shares of Swift Transportation by 3.0% in the first quarter. Mesirow Financial Investment Management Equity Management now owns 624,579 shares of the transportation company’s stock worth $12,828,000 after buying an additional 17,989 shares during the period. James Investment Research Inc. boosted its stake 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 period. Finally, Rice Hall James & Associates LLC acquired a new stake in shares of Swift Transportation during the first quarter worth approximately $9,935,000. Hedge funds and other institutional investors own 75.98% of the company’s stock.
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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