Credit Suisse Group Trims Swift Transportation Company (KNX) Target Price to $40.00
Swift Transportation Company (NYSE:KNX) had its price target lowered by Credit Suisse Group from $41.00 to $40.00 in a report released on Tuesday. Credit Suisse Group currently has a neutral rating on the transportation company’s stock.
Other equities research analysts also recently issued reports about 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 for the company. in a research note on Wednesday, July 12th. Barclays PLC boosted their price target on shares of Swift Transportation from $33.00 to $37.00 and gave the stock an underweight rating in a research note on Monday, October 2nd. Bank of America Corporation reissued a buy rating and set a $43.00 price target (up from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. Finally, ValuEngine raised shares of Swift Transportation from a hold rating to a buy rating in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $41.13.
Swift Transportation (NYSE KNX) traded down $0.27 during trading on Tuesday, hitting $38.38. The company had a trading volume of 2,604,891 shares, compared to its average volume of 1,702,475. Swift Transportation has a 12 month low of $26.68 and a 12 month high of $44.45. The stock has a market capitalization of $6,880.00, a PE ratio of 29.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.32 and a quick ratio of 1.41.
Swift Transportation (NYSE:KNX) last announced 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). Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. The company had revenue of $521.61 million during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. research analysts anticipate that Swift Transportation will post 1.15 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.63%. The ex-dividend date is Thursday, November 30th.
In other news, General Counsel Todd F. Carlson sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction, the general counsel now owns 23,638 shares in the company, valued at $894,934.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.90% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in KNX. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Swift Transportation by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after buying an additional 288 shares during the period. Riverhead Capital Management LLC boosted its holdings in shares of Swift Transportation by 58.2% in the second quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock valued at $187,000 after buying an additional 1,863 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Swift Transportation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock valued at $200,000 after buying an additional 807 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Swift Transportation in the second quarter valued at approximately $202,000. Finally, Capital One National Association acquired a new position in shares of Swift Transportation in the second quarter valued at approximately $212,000.
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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