Swift Transportation Company (NYSE:SWFT) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Swift Transportation Company (NYSE:SWFT) from a sell rating to a hold rating in a research note issued to investors on Tuesday, July 18th.

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. “

Several other research analysts have also issued reports on the stock. Barclays PLC lowered shares of Swift Transportation from an overweight rating to an equal weight rating and reduced their target price for the company from $29.00 to $24.00 in a research note on Friday, March 24th. Deutsche Bank AG reaffirmed a buy rating on shares of Swift Transportation in a research note on Friday, April 14th. Vetr lowered shares of Swift Transportation from a strong-buy rating to a buy rating and set a $27.80 target price on the stock. in a research note on Monday, April 24th. Knight Equity reaffirmed a market perform rating and issued a $27.00 target price (up previously from $14.31) on shares of Swift Transportation in a research note on Tuesday, April 11th. Finally, Stephens downgraded shares of Swift Transportation from an overweight rating to an equal weight rating in a research report on Tuesday, April 11th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Swift Transportation has a consensus rating of Buy and a consensus price target of $28.18.

Shares of Swift Transportation (NYSE:SWFT) traded up 1.44% during trading on Tuesday, hitting $26.70. 1,087,358 shares of the company were exchanged. The stock has a market cap of $3.58 billion, a P/E ratio of 34.23 and a beta of 1.96. The company’s 50-day moving average price is $25.98 and its 200 day moving average price is $23.68. Swift Transportation has a 12 month low of $18.05 and a 12 month high of $27.23.

Swift Transportation (NYSE:SWFT) last issued its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $1,000 million for the quarter, compared to analyst estimates of $1.02 billion. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 EPS. On average, equities analysts predict that Swift Transportation will post $0.98 earnings per share for the current fiscal year.

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In other news, CFO Virginia Henkels sold 58,000 shares of Swift Transportation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $24.16, for a total transaction of $1,401,280.00. Following the completion of the sale, the chief financial officer now owns 45,748 shares of the company’s stock, valued at $1,105,271.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Richard Stocking sold 80,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $24.25, for a total value of $1,940,000.00. Following the completion of the transaction, the insider now directly owns 93,902 shares of the company’s stock, valued at approximately $2,277,123.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,280 shares of company stock valued at $5,341,261. Company insiders own 44.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. TrimTabs Asset Management LLC increased its position in Swift Transportation by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 5,013 shares of the transportation company’s stock worth $103,000 after buying an additional 2,360 shares during the period. James Investment Research Inc. increased its position in Swift Transportation by 51.5% in the first quarter. James Investment Research Inc. now owns 5,150 shares of the transportation company’s stock worth $106,000 after buying an additional 1,750 shares during the period. Exane Derivatives bought a new position in Swift Transportation during the first quarter worth approximately $124,000. Ameritas Investment Partners Inc. bought a new position in Swift Transportation during the first quarter worth approximately $133,000. Finally, New York State Teachers Retirement System increased its position in Swift Transportation by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 6,600 shares of the transportation company’s stock worth $161,000 after buying an additional 200 shares during the period. 75.22% of the stock is owned by institutional investors and hedge funds.

Swift Transportation Company Profile

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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