Swift Transportation Company (SWFT) Posts Earnings Results, Beats Estimates By $0.05 EPS

Swift Transportation Company (NYSE:SWFT) announced its earnings results on Monday, July 24th. The transportation company reported $0.25 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05, Bloomberg Earnings reports. The firm had revenue of $1,000 million during the quarter, compared to analysts’ expectations of $1.02 billion. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS.

Swift Transportation (NYSE:SWFT) opened at 26.67 on Friday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 34.19 and a beta of 1.96. The company’s 50-day moving average price is $26.06 and its 200 day moving average price is $23.79. Swift Transportation has a 52 week low of $18.40 and a 52 week high of $27.67.

SWFT has been the subject of a number of recent research reports. 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 report on Monday, July 10th. Vetr lowered Swift Transportation from a “strong-buy” rating to a “buy” rating and set a $27.80 price target for the company. in a research note on Monday, April 24th. TheStreet lowered Swift Transportation from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Zacks Investment Research raised Swift Transportation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Stephens raised Swift Transportation from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $26.00 to $30.00 in a research note on Monday, June 12th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.18.

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In other news, insider Cary M. Flanagan sold 2,454 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $23.93, for a total value of $58,724.22. Following the completion of the transaction, the insider now directly owns 6,743 shares in the company, valued at $161,359.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Richard Stocking sold 80,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 93,902 shares of the company’s stock, valued at $2,277,123.50. The disclosure for this sale can be found here. Insiders sold 377,053 shares of company stock valued at $9,597,059 over the last quarter. Insiders own 44.90% of the company’s stock.

A number of hedge funds have recently modified their holdings of SWFT. New York State Teachers Retirement System increased its stake in shares of 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 valued at $161,000 after buying an additional 200 shares during the period. Guggenheim Capital LLC increased its stake in shares of Swift Transportation by 9.5% in the fourth quarter. Guggenheim Capital LLC now owns 81,303 shares of the transportation company’s stock valued at $1,980,000 after buying an additional 7,086 shares during the period. AQR Capital Management LLC increased its stake in shares of Swift Transportation by 746.9% in the fourth quarter. AQR Capital Management LLC now owns 156,674 shares of the transportation company’s stock valued at $3,817,000 after buying an additional 138,174 shares during the period. Hudson Bay Capital Management LP purchased a new stake in shares of Swift Transportation during the fourth quarter valued at approximately $365,000. Finally, Teachers Advisors LLC increased its stake in shares of Swift Transportation by 502.8% in the fourth quarter. Teachers Advisors LLC now owns 760,146 shares of the transportation company’s stock valued at $18,517,000 after buying an additional 634,040 shares during the period. Hedge funds and other institutional investors own 78.75% of the company’s stock.

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.

Earnings History for Swift Transportation (NYSE:SWFT)

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