Swift Transportation Company (NYSE:SWFT) Rating Lowered to Hold at Zacks Investment Research
Swift Transportation Company (NYSE:SWFT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.
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 analysts have also recently weighed in on SWFT. Vetr cut Swift Transportation from a “strong-buy” rating to a “hold” rating and set a $25.00 price objective for the company. in a research report on Monday, April 10th. Stephens cut Swift Transportation from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, April 11th. Knight Equity reissued a “market perform” rating and issued a $27.00 price objective (up previously from $14.31) on shares of Swift Transportation in a research report on Tuesday, April 11th. Raymond James Financial, Inc. reissued 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. Finally, Vertical Research started coverage on Swift Transportation in a research report on Thursday, April 13th. They issued a “buy” rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Swift Transportation currently has a consensus rating of “Buy” and a consensus target price of $28.18.
Shares of Swift Transportation (SWFT) opened at 26.04 on Friday. The firm has a 50-day moving average price of $25.89 and a 200 day moving average price of $23.52. 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 P/E ratio of 33.38 and a beta of 1.96.
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, topping the Zacks’ consensus estimate of $0.20 by $0.05. The firm had revenue of $1,000 million during the quarter, compared to analysts’ expectations of $1.02 billion. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. On average, equities research analysts predict that Swift Transportation will post $0.98 earnings per share for the current year.
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In related news, CFO Virginia Henkels sold 44,000 shares of Swift Transportation stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $24.03, for a total value of $1,057,320.00. Following the completion of the transaction, the chief financial officer now owns 29,247 shares in the company, valued at approximately $702,805.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Cary M. Flanagan sold 2,454 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 6,743 shares of the company’s stock, valued at $161,359.99. The disclosure for this sale can be found here. In the last 90 days, insiders sold 221,280 shares of company stock valued at $5,341,261. 44.90% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake 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 raised its stake 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 stake in Swift Transportation during the first quarter valued at approximately $38,449,000. UBS Oconnor LLC purchased a new stake in Swift Transportation during the first quarter valued at approximately $20,797,000. Finally, Teachers Advisors LLC raised its stake in Swift Transportation by 502.8% in the fourth quarter. Teachers Advisors LLC now owns 760,146 shares of the transportation company’s stock valued at $18,517,000 after buying an additional 634,040 shares during the period. Institutional investors own 75.98% of the company’s stock.
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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