Deutsche Bank AG Reaffirms Top Pick Rating for Swift Transportation Co. (SWFT)
Several other equities analysts have also recently issued reports on SWFT. KeyCorp reaffirmed a hold rating on shares of Swift Transportation in a report on Sunday, October 9th. Robert W. Baird raised their price target on Swift Transportation from $21.00 to $23.00 and gave the stock an outperform rating in a research report on Monday, September 12th. Bank of America Corp. reaffirmed a buy rating and issued a $24.00 price objective on shares of Swift Transportation in a research report on Monday, September 12th. Citigroup Inc. lifted their price objective on Swift Transportation from $20.00 to $24.00 and gave the company a buy rating in a research report on Monday, September 12th. Finally, Barclays PLC lifted their price objective on Swift Transportation from $22.00 to $24.00 and gave the company an overweight rating in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $20.97.
Shares of Swift Transportation (NYSE:SWFT) traded up 0.28% during mid-day trading on Monday, hitting $24.76. The company had a trading volume of 100,672 shares. The firm has a 50-day moving average price of $21.88 and a 200 day moving average price of $18.72. The firm has a market capitalization of $3.28 billion, a P/E ratio of 19.79 and a beta of 1.93. Swift Transportation has a 12 month low of $11.74 and a 12 month high of $25.34.
Swift Transportation (NYSE:SWFT) last posted its quarterly earnings results on Monday, October 24th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The business earned $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Swift Transportation had a return on equity of 32.99% and a net margin of 4.54%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. On average, equities research analysts forecast that Swift Transportation will post $1.36 earnings per share for the current fiscal year.
In other Swift Transportation news, VP Kirk Steven Richard Van sold 11,492 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $24.75, for a total value of $284,427.00. Following the completion of the sale, the vice president now directly owns 20,233 shares in the company, valued at $500,766.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cary M. Flanagan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $23.64, for a total value of $236,400.00. Following the completion of the sale, the insider now owns 15,409 shares of the company’s stock, valued at $364,268.76. The disclosure for this sale can be found here. 44.90% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in SWFT. Acrospire Investment Management LLC increased its stake in shares of Swift Transportation by 42.0% in the second quarter. Acrospire Investment Management LLC now owns 7,100 shares of the company’s stock worth $109,000 after buying an additional 2,100 shares during the period. Advisor Group Inc. increased its stake in shares of Swift Transportation by 42.2% in the third quarter. Advisor Group Inc. now owns 6,662 shares of the company’s stock worth $143,000 after buying an additional 1,976 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Swift Transportation during the second quarter worth approximately $155,000. Pacad Investment Ltd. bought a new stake in shares of Swift Transportation during the second quarter worth approximately $160,000. Finally, BlackRock Inc. increased its stake in shares of Swift Transportation by 2.3% in the second quarter. BlackRock Inc. now owns 10,739 shares of the company’s stock worth $166,000 after buying an additional 242 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Swift Transportation Company Profile
Swift Transportation Company (Swift Transportation Co) is a multi-faceted transportation services company, which operates the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload, Dedicated, Swift Refrigerated and Intermodal.
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