BidaskClub cut shares of Swift Transportation Company (NYSE:SWFT) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
Other equities analysts have also issued research reports about the stock. Bank of America Corporation reiterated a buy rating and issued a $31.00 target price (up previously from $29.00) on shares of Swift Transportation in a research report on Monday, July 10th. Stephens upgraded shares of Swift Transportation from an equal weight rating to an overweight rating and increased their target price for the company from $26.00 to $30.00 in a research report on Monday, June 12th. Vetr lowered shares of Swift Transportation from a strong-buy rating to a buy rating and set a $27.80 target price for the company. in a research report on Monday, April 24th. TheStreet lowered shares of Swift Transportation from a b- rating to a c rating in a research report on Monday, April 24th. Finally, Knight Equity reiterated a market perform rating and issued a $27.00 target price (up previously from $14.31) on shares of Swift Transportation in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $27.32.
Shares of Swift Transportation (NYSE:SWFT) traded down 1.31% during mid-day trading on Tuesday, hitting $25.52. 512,587 shares of the stock traded hands. Swift Transportation has a 12-month low of $16.67 and a 12-month high of $27.23. The stock has a market cap of $3.40 billion, a P/E ratio of 27.98 and a beta of 1.97. The firm’s 50 day moving average price is $24.65 and its 200-day moving average price is $23.30.
Swift Transportation (NYSE:SWFT) last released its quarterly earnings data on Monday, April 24th. The transportation company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.04. Swift Transportation had a return on equity of 25.10% and a net margin of 3.39%. The firm had revenue of $963.80 million during the quarter, compared to analyst estimates of $970.74 million. During the same period last year, the business earned $0.25 EPS. The firm’s revenue was down .4% on a year-over-year basis. Analysts predict that Swift Transportation will post $0.96 earnings per share for the current year.
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In other Swift Transportation news, insider Richard Stocking sold 80,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $24.25, for a total transaction of $1,940,000.00. Following the completion of the sale, the insider now directly owns 93,902 shares of the company’s stock, valued at $2,277,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard H. Dozer sold 1,833 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $24.26, for a total transaction of $44,468.58. Following the sale, the director now directly owns 15,572 shares of the company’s stock, valued at $377,776.72. The disclosure for this sale can be found here. Insiders have sold 223,113 shares of company stock valued at $5,385,729 over the last ninety days. Insiders own 44.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. 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 worth $99,912,000 after buying an additional 4,852,297 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Swift Transportation during the first quarter worth approximately $38,449,000. Norges Bank purchased a new stake in Swift Transportation during the fourth quarter worth approximately $43,765,000. UBS Oconnor LLC purchased a new stake in Swift Transportation during the first quarter worth 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 worth $18,517,000 after buying an additional 634,040 shares in the last quarter. 75.77% of the stock is owned by institutional investors.
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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