Swift Transportation Company (SWFT) Rating Increased to Buy at BidaskClub
Swift Transportation Company (NYSE:SWFT) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
SWFT has been the topic of a number of other research reports. ValuEngine raised shares of Swift Transportation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $27.00 price target on shares of Swift Transportation in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Swift Transportation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Cowen and Company reissued a “buy” rating and issued a $25.00 price target on shares of Swift Transportation in a research note on Monday, August 28th. Finally, UBS AG reissued a “buy” rating and issued a $31.00 price target (up previously from $29.00) on shares of Swift Transportation in a research note on Tuesday, July 25th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $27.99.
Swift Transportation (SWFT) opened at 29.49 on Thursday. Swift Transportation has a 12 month low of $19.21 and a 12 month high of $29.70. The company’s 50 day moving average is $26.87 and its 200-day moving average is $24.31. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 37.81 and a beta of 1.96.
Swift Transportation (NYSE:SWFT) last released its quarterly earnings results on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm had revenue of $1,000 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company earned $0.34 EPS. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts expect that Swift Transportation will post $0.98 earnings per share for the current fiscal year.
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In other news, insider Richard Stocking sold 78,215 shares of Swift Transportation stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $28.66, for a total transaction of $2,241,641.90. Following the transaction, the insider now owns 108,864 shares in the company, valued at approximately $3,120,042.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Virginia Henkels sold 29,051 shares of Swift Transportation stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $27.41, for a total value of $796,287.91. Following the transaction, the chief financial officer now owns 39,004 shares in the company, valued at approximately $1,069,099.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,141 shares of company stock worth $6,959,714. Insiders own 44.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. TrimTabs Asset Management LLC raised its holdings in shares of Swift Transportation by 89.0% during the 1st quarter. TrimTabs Asset Management LLC now owns 5,013 shares of the transportation company’s stock worth $103,000 after acquiring an additional 2,360 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Swift Transportation during the 2nd quarter worth $117,000. Ameritas Investment Partners Inc. purchased a new position in shares of Swift Transportation during the 1st quarter worth $133,000. FNY Partners Fund LP raised its holdings in shares of Swift Transportation by 20,933.3% during the 1st quarter. FNY Partners Fund LP now owns 7,500 shares of the transportation company’s stock worth $154,000 after acquiring an additional 7,536 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in shares of Swift Transportation by 22.8% during the 1st quarter. Stratos Wealth Partners LTD. now owns 11,182 shares of the transportation company’s stock worth $230,000 after acquiring an additional 2,076 shares during the period. Institutional investors and hedge funds own 74.86% of the company’s stock.
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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