Several other analysts also recently issued reports on the company. Robert W. Baird lifted their price target on Swift Transportation from $21.00 to $23.00 and gave the company an outperform rating in a research note on Monday, September 12th. Bank of America Corp. reaffirmed a buy rating and issued a $24.00 target price on shares of Swift Transportation in a research report on Monday, September 12th. Citigroup Inc. lifted their target price on Swift Transportation from $20.00 to $24.00 and gave the company a buy rating in a research report on Monday, September 12th. Barclays PLC lifted their target price on Swift Transportation from $22.00 to $24.00 and gave the company an overweight rating in a research report on Monday, September 12th. Finally, Zacks Investment Research raised Swift Transportation from a sell rating to a hold rating in a research report on Friday, September 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $19.75.
Shares of Swift Transportation (NYSE:SWFT) opened at 20.98 on Friday. The company has a market cap of $2.80 billion, a P/E ratio of 15.95 and a beta of 2.23. The firm has a 50 day moving average price of $20.33 and a 200-day moving average price of $17.90. Swift Transportation has a 12 month low of $11.74 and a 12 month high of $22.15.
Swift Transportation (NYSE:SWFT) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Swift Transportation had a return on equity of 32.87% and a net margin of 4.44%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the business posted $0.37 EPS. Analysts anticipate that Swift Transportation will post $1.35 earnings per share for the current fiscal year.
In related news, Director Jose A. Cardenas sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $19.60, for a total value of $39,200.00. Following the completion of the sale, the director now directly owns 11,275 shares in the company, valued at $220,990. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Timothy W. Guin sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $19.00, for a total value of $285,000.00. Following the completion of the sale, the executive vice president now owns 18,601 shares of the company’s stock, valued at $353,419. The disclosure for this sale can be found here. Insiders own 44.90% of the company’s stock.
Several large investors have recently modified their holdings of SWFT. Impala Asset Management LLC boosted its stake in shares of Swift Transportation by 40.2% in the second quarter. Impala Asset Management LLC now owns 4,374,147 shares of the company’s stock valued at $67,406,000 after buying an additional 1,253,209 shares during the period. Anchor Bolt Capital LP acquired a new stake in Swift Transportation during the first quarter valued at $21,223,000. Renaissance Technologies LLC acquired a new stake in Swift Transportation during the first quarter valued at $14,041,000. Northpointe Capital LLC acquired a new stake in Swift Transportation during the second quarter valued at $10,706,000. Finally, Dimensional Fund Advisors LP boosted its stake in Swift Transportation by 40.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,309,583 shares of the company’s stock valued at $35,590,000 after buying an additional 666,216 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
Swift Transportation Company Profile
Swift Transportation Company (Swift Transportation Co) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.
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