Swift Transportation Company (KNX) Price Target Cut to $40.00 by Analysts at Credit Suisse Group
Swift Transportation Company (NYSE:KNX) had its price objective decreased by Credit Suisse Group from $41.00 to $40.00 in a research report report published on Tuesday morning. Credit Suisse Group currently has a neutral rating on the transportation company’s stock.
Several other equities analysts also recently commented on the stock. Bank of America Corporation restated a buy rating and issued a $43.00 price target (up previously from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. BidaskClub downgraded shares of Swift Transportation from a strong-buy rating to a buy rating in a research note on Wednesday, July 12th. Deutsche Bank AG set a $45.00 price target on shares of Swift Transportation and gave the stock a buy rating in a research note on Monday, July 31st. UBS AG boosted their price target on shares of Swift Transportation from $43.00 to $53.00 and gave the stock a buy rating in a research note on Friday, September 29th. Finally, Seaport Global Securities restated a buy rating on shares of Swift Transportation in a research note on Thursday, September 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Swift Transportation currently has a consensus rating of Buy and a consensus target price of $41.13.
Swift Transportation (NYSE KNX) traded up $0.33 on Tuesday, reaching $38.91. 4,214,179 shares of the company’s stock were exchanged, compared to its average volume of 1,811,450. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.45 and a quick ratio of 1.41. Swift Transportation has a twelve month low of $29.85 and a twelve month high of $44.45. The stock has a market cap of $7,241.83, a price-to-earnings ratio of 26.22 and a beta of 2.07.
Swift Transportation (NYSE:KNX) last released its earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.05). The business had revenue of $521.61 million during the quarter, compared to analysts’ expectations of $1.33 billion. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. During the same period last year, the business earned $0.34 earnings per share. sell-side analysts forecast that Swift Transportation will post 1.16 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 1st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.62%.
In related news, General Counsel Todd F. Carlson sold 3,000 shares of the business’s 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 44.90% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in KNX. BlackRock Inc. raised its holdings in shares of Swift Transportation by 129,468.0% in the first quarter. BlackRock Inc. now owns 7,898,465 shares of the transportation company’s stock valued at $247,616,000 after buying an additional 7,892,369 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Swift Transportation by 97.1% in the third quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock valued at $350,174,000 after buying an additional 4,151,669 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Swift Transportation by 1,098.3% in the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock valued at $51,173,000 after buying an additional 1,265,934 shares during the last quarter. Citadel Advisors LLC raised its holdings in shares of Swift Transportation by 10,372.6% in the second quarter. Citadel Advisors LLC now owns 1,219,634 shares of the transportation company’s stock valued at $45,187,000 after buying an additional 1,207,988 shares during the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Swift Transportation by 1,958.7% in the third quarter. Artemis Investment Management LLP now owns 1,152,833 shares of the transportation company’s stock valued at $47,877,000 after buying an additional 1,096,835 shares during the last quarter.
About Swift Transportation
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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