Swift Transportation Company (KNX) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Swift Transportation Company (NYSE:KNX) from a hold rating to a buy rating in a research note released on Tuesday.
KNX has been the topic of a number of other research reports. BidaskClub lowered Swift Transportation from a strong-buy rating to a buy rating in a report on Wednesday, July 12th. Deutsche Bank AG set a $45.00 price objective on Swift Transportation and gave the company a buy rating in a report on Monday, July 31st. Zacks Investment Research lowered Swift Transportation from a buy rating to a hold rating and set a $40.00 price objective on the stock. in a report on Wednesday, July 12th. Stephens upgraded Swift Transportation from an equal weight rating to an overweight rating and raised their price objective for the company from $36.00 to $42.00 in a report on Monday, June 12th. Finally, Buckingham Research began coverage on Swift Transportation in a report on Monday, August 21st. They issued a buy rating and a $43.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $38.44.
Shares of Swift Transportation (NYSE KNX) opened at 39.82 on Tuesday. Swift Transportation has a 12 month low of $26.85 and a 12 month high of $44.45. The company has a market cap of $3.21 billion, a PE ratio of 41.05 and a beta of 1.96. The company has a 50-day moving average of $38.02 and a 200 day moving average of $34.93.
Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. The company had revenue of $273.20 million for the quarter, compared to analyst estimates of $283.88 million. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, analysts anticipate that Swift Transportation will post $1.23 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.60%.
In related news, General Counsel Todd F. Carlson sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the sale, the general counsel now directly owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.52, for a total value of $68,475.00. Following the sale, the director now directly owns 56,011 shares of the company’s stock, valued at $2,045,521.72. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Swift Transportation by 9.5% during the 1st quarter. Geode Capital Management LLC now owns 508,907 shares of the transportation company’s stock worth $15,953,000 after purchasing an additional 44,148 shares during the last quarter. State of Tennessee Treasury Department increased its position in shares of Swift Transportation by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 62,148 shares of the transportation company’s stock worth $1,948,000 after purchasing an additional 9,379 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Swift Transportation by 5.1% during the 1st quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock worth $178,353,000 after purchasing an additional 275,392 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Swift Transportation by 3.4% during the 1st quarter. Wellington Management Group LLP now owns 9,403,622 shares of the transportation company’s stock worth $294,802,000 after purchasing an additional 309,790 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Swift Transportation by 17.7% during the 1st quarter. JPMorgan Chase & Co. now owns 3,460,276 shares of the transportation company’s stock worth $108,480,000 after purchasing an additional 520,401 shares during the last quarter. 74.86% of the stock is owned by hedge funds and other institutional investors.
Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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