Swift Transportation Company (KNX) Director Michael Garnreiter Sells 2,500 Shares
Swift Transportation Company (NYSE:KNX) Director Michael Garnreiter sold 2,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $38.50, for a total transaction of $96,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Swift Transportation Company (NYSE KNX) traded up $0.71 during trading on Wednesday, reaching $38.75. 2,023,300 shares of the company’s stock traded hands, compared to its average volume of 1,706,447. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market capitalization of $6,768.57, a PE ratio of 28.53 and a beta of 2.07. Swift Transportation Company has a twelve month low of $26.68 and a twelve month high of $44.45.
Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.05). Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. The company had revenue of $521.61 million for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. research analysts forecast that Swift Transportation Company will post 1.13 earnings per share for the current fiscal year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in KNX. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Swift Transportation by 11.5% during 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 last quarter. Riverhead Capital Management LLC raised its holdings in shares of Swift Transportation by 58.2% during the second quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock valued at $187,000 after purchasing an additional 1,863 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Swift Transportation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock valued at $200,000 after purchasing an additional 807 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Swift Transportation during the second quarter valued at approximately $202,000. Finally, Capital One National Association purchased a new stake in Swift Transportation during the second quarter valued at approximately $212,000.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Swift Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. ValuEngine raised shares of Swift Transportation from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. J P Morgan Chase & Co assumed coverage on shares of Swift Transportation in a research note on Thursday, October 12th. They set a “neutral” rating and a $39.00 target price on the stock. Deutsche Bank AG set a $45.00 target price on shares of Swift Transportation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Seaport Global Securities reaffirmed a “buy” rating on shares of Swift Transportation in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $41.13.
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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