Swift Transportation Company (KNX) Rating Lowered to Sell at Zacks Investment Research
Swift Transportation Company (NYSE:KNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Knight-Swift Transportation Holdings Inc. through its Knight Transportation, Swift Transportation and Barr-Nunn branded subsidiaries, operates truckload fleet primarily in North America as well as extensive rail intermodal and non-asset based freight brokerage and logistics management services. The Company’s services includes irregular route, dedicated, expedited, port drayage and cross-border U.S; Mexico; Canada transport utilizing dry van, refrigerated, flatbed and specialized trailers and intermodal containers. Knight-Swift Transportation Holdings Inc., formerly known as Knight Transportation Inc., is headquartered in Phoenix, Arizona. “
KNX has been the topic of a number of other research reports. Buckingham Research initiated coverage on Swift Transportation in a research report on Monday, August 21st. They set a “buy” rating and a $43.00 price objective on the stock. ValuEngine downgraded Swift Transportation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. UBS AG lifted their price objective on Swift Transportation from $43.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. J P Morgan Chase & Co initiated coverage on Swift Transportation in a research report on Thursday, October 12th. They set a “neutral” rating and a $39.00 price objective on the stock. Finally, Deutsche Bank AG set a $45.00 price objective on Swift Transportation and gave the stock a “buy” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Swift Transportation presently has an average rating of “Buy” and a consensus target price of $40.41.
Swift Transportation (NYSE KNX) traded up 0.30% during trading on Tuesday, hitting $40.35. The stock had a trading volume of 1,099,301 shares. The company’s 50 day moving average is $40.24 and its 200-day moving average is $36.58. Swift Transportation has a 12 month low of $27.89 and a 12 month high of $44.45. The company has a market cap of $3.25 billion, a PE ratio of 41.60 and a beta of 1.97.
Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. The firm had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. During the same quarter last year, the business posted $0.31 earnings per share. The firm’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Swift Transportation will post $1.21 earnings per share for the current year.
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In other news, Director G D. Madden sold 1,875 shares of Swift Transportation stock in a transaction on Monday, August 7th. The stock was sold at an average price of $36.52, for a total value of $68,475.00. Following the completion of the sale, the director now directly owns 56,011 shares of the company’s stock, valued at $2,045,521.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Todd F. Carlson sold 3,000 shares of Swift Transportation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $37.86, for a total value of $113,580.00. Following the completion of the sale, the general counsel now directly owns 23,638 shares of the company’s stock, valued at $894,934.68. The disclosure for this sale can be found here. Insiders own 44.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Swift Transportation by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after purchasing an additional 288 shares during the period. LS Investment Advisors LLC boosted its holdings in Swift Transportation by 33.5% in the first quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock valued at $105,000 after purchasing an additional 844 shares during the period. Bank of Montreal Can purchased a new position in Swift Transportation in the second quarter valued at $107,000. BlackRock Inc. boosted its holdings in Swift Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the transportation company’s stock valued at $109,000 after purchasing an additional 2,339 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Swift Transportation by 3,916.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,418 shares of the transportation company’s stock valued at $118,000 after purchasing an additional 4,308 shares during the period.
Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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