Longbow Research upgraded shares of Swift Transportation Co (NYSE:SWFT) from a neutral rating to a buy rating in a research report sent to investors on Tuesday morning. Longbow Research currently has $26.00 price objective on the stock.
Several other analysts have also commented on SWFT. Seaport Global Securities assumed coverage on Swift Transportation in a research note on Friday, December 16th. They issued a buy rating and a $30.00 price target on the stock. Stifel Nicolaus lowered Swift Transportation from a buy rating to a hold rating and boosted their price target for the company from $24.00 to $25.00 in a research note on Tuesday, November 22nd. They noted that the move was a valuation call. Wells Fargo & Co lowered Swift Transportation from an outperform rating to a market perform rating in a research note on Wednesday, December 21st. JPMorgan Chase & Co. raised Swift Transportation from a neutral rating to an overweight rating and set a $31.00 price target on the stock in a research note on Thursday, December 15th. Finally, Zacks Investment Research lowered Swift Transportation from a hold rating to a strong sell rating in a research note on Saturday, December 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given 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 an average price target of $24.77.
Swift Transportation (NYSE:SWFT) opened at 19.74 on Tuesday. Swift Transportation has a 52 week low of $14.31 and a 52 week high of $27.18. The company’s 50-day moving average price is $21.67 and its 200 day moving average price is $22.64. The company has a market cap of $2.63 billion, a PE ratio of 17.95 and a beta of 1.71.
Swift Transportation (NYSE:SWFT) last announced its quarterly earnings data on Thursday, January 26th. The company reported $0.40 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. Swift Transportation had a return on equity of 29.46% and a net margin of 4.05%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $0.53 EPS. Swift Transportation’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, analysts anticipate that Swift Transportation will post $1.16 EPS for the current year.
In other Swift Transportation news, Director Strategic Value Partners, Llc acquired 805,000 shares of the business’s stock in a transaction on Sunday, January 22nd. The stock was purchased at an average price of $28.50 per share, for a total transaction of $22,942,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 44.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of SWFT. Macquarie Group Ltd. increased its position in shares of Swift Transportation by 49.6% in the second quarter. Macquarie Group Ltd. now owns 609,065 shares of the company’s stock valued at $9,386,000 after buying an additional 201,840 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Swift Transportation by 360.4% in the third quarter. BNP Paribas Arbitrage SA now owns 17,721 shares of the company’s stock valued at $380,000 after buying an additional 13,872 shares during the last quarter. First Mercantile Trust Co. increased its position in shares of Swift Transportation by 4.6% in the third quarter. First Mercantile Trust Co. now owns 13,987 shares of the company’s stock valued at $300,000 after buying an additional 611 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Swift Transportation by 1.2% in the third quarter. Fisher Asset Management LLC now owns 1,844,230 shares of the company’s stock valued at $39,596,000 after buying an additional 22,030 shares during the last quarter. Finally, Morgens Waterfall Vintiadis & Co. Inc. acquired a new position in shares of Swift Transportation during the third quarter valued at about $644,000. Hedge funds and other institutional investors own 73.76% 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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