Swift Transportation Company (KNX) Downgraded to “Strong Sell” at Zacks Investment Research
Swift Transportation Company (NYSE:KNX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Knight-Swift Transportation Holdings Inc., is the largest provider of truckload services in North America. Through its Knight Transportation, Swift Transportation and Barr-Nunn branded subsidiaries, it operates truckload fleet primarily in North America as well as extensive rail intermodal and non-asset based freight brokerage and logistics management services. The Company offers dry van, cross border freight transportation, fleet solutions, consulting, brokerage, equipment leasing, temperature controlled transport, and engineering services. Knight-Swift Transportation Holdings serves customers in North America. Knight-Swift Transportation Holdings Inc., formerly known as Knight Transportation Inc., is headquartered in Phoenix, Arizona. “
Several other brokerages also recently weighed in on KNX. ValuEngine upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Seaport Global Securities restated a “buy” rating on shares of Swift Transportation in a research note on Thursday, September 21st. UBS AG lowered their target price on Swift Transportation from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. J P Morgan Chase & Co initiated coverage on Swift Transportation in a research note on Thursday, October 12th. They issued a “neutral” rating and a $39.00 price target for the company. Finally, BidaskClub upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.13.
Shares of Swift Transportation (NYSE KNX) opened at $38.04 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $6,829.07, a PE ratio of 28.78 and a beta of 2.07. Swift Transportation has a 52 week low of $26.68 and a 52 week high of $44.45.
Swift Transportation (NYSE:KNX) last announced its earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). The business had revenue of $521.61 million for the quarter, compared to analyst estimates of $1.33 billion. Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. During the same quarter in the prior year, the business earned $0.34 earnings per share. sell-side analysts predict that Swift Transportation will post 1.13 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Swift Transportation by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock worth $104,000 after acquiring an additional 288 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in Swift Transportation by 58.2% in the second quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock worth $187,000 after acquiring an additional 1,863 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Swift Transportation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock worth $200,000 after acquiring an additional 807 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Swift Transportation in the second quarter worth about $202,000. Finally, Capital One National Association bought a new position in Swift Transportation in the second quarter worth about $212,000.
About Swift Transportation
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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