Barclays PLC Raises Swift Transportation Company (KNX) Price Target to $37.00
Swift Transportation Company (NYSE:KNX) had its price target raised by Barclays PLC from $33.00 to $37.00 in a report issued on Monday, Marketbeat Ratings reports. The firm currently has an underweight rating on the transportation company’s stock.
A number of other equities research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Swift Transportation from a strong-buy rating to a buy rating in a research note on Wednesday, July 12th. Zacks Investment Research downgraded shares of Swift Transportation from a buy rating to a hold rating and set a $40.00 price target on the stock. 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 company a buy rating in a research note on Monday, July 31st. Citigroup Inc. assumed coverage on shares of Swift Transportation in a research note on Tuesday, September 19th. They issued a buy rating and a $48.00 price target on the stock. Finally, UBS AG boosted their price target on shares of Swift Transportation from $43.00 to $53.00 and gave the company a buy rating in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $40.50.
Swift Transportation (KNX) opened at 40.47 on Monday. The company’s 50-day moving average is $39.63 and its 200 day moving average is $35.70. The company has a market capitalization of $3.26 billion, a P/E ratio of 41.72 and a beta of 1.97. Swift Transportation has a one year low of $26.85 and a one year high of $44.45.
Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, hitting analysts’ consensus estimates of $0.25. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The company had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. During the same period in the previous year, the firm earned $0.31 earnings per share. Swift Transportation’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Swift Transportation will post $1.16 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, August 30th.
In related news, Director G D. Madden sold 1,875 shares of Swift Transportation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $36.52, for a total value of $68,475.00. Following the completion of the transaction, the director now owns 56,011 shares in the company, valued at $2,045,521.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Todd F. Carlson sold 3,000 shares of Swift Transportation stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the transaction, the general counsel now owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of KNX. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Swift Transportation by 11.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock worth $104,000 after acquiring an additional 288 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Swift Transportation by 33.5% during the 1st quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock worth $105,000 after acquiring an additional 844 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in Swift Transportation during the 1st quarter worth approximately $122,000. Victory Capital Management Inc. grew its holdings in Swift Transportation by 43.6% during the 1st quarter. Victory Capital Management Inc. now owns 4,578 shares of the transportation company’s stock worth $144,000 after acquiring an additional 1,390 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in Swift Transportation during the 1st quarter worth approximately $181,000.
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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