Swift Transportation Company (KNX) Given Average Recommendation of “Buy” by Brokerages
Shares of Swift Transportation Company (NYSE:KNX) have been assigned a consensus recommendation of “Buy” from the twenty brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $41.14.
Several research analysts have issued reports on KNX shares. Zacks Investment Research lowered shares of Swift Transportation from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. Deutsche Bank AG set a $45.00 price target on shares of Swift Transportation and gave the stock a “buy” rating in a research report on Monday, July 31st. BidaskClub lowered shares of Swift Transportation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Buckingham Research began coverage on shares of Swift Transportation in a research report on Monday, August 21st. They issued a “buy” rating and a $43.00 price target on the stock. Finally, ValuEngine upgraded shares of Swift Transportation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th.
In other Swift Transportation news, Director Michael Garnreiter sold 2,500 shares of Swift Transportation stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $38.50, for a total transaction of $96,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 44.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Swift Transportation by 97.1% in the 3rd 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 purchasing an additional 4,151,669 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Swift Transportation by 1.7% in the 2nd quarter. BlackRock Inc. now owns 8,031,762 shares of the transportation company’s stock valued at $297,576,000 after purchasing an additional 133,297 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Swift Transportation by 10.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,279,350 shares of the transportation company’s stock valued at $232,649,000 after purchasing an additional 590,259 shares during the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Swift Transportation by 8.4% in the 3rd quarter. Wasatch Advisors Inc. now owns 5,564,873 shares of the transportation company’s stock valued at $231,220,000 after purchasing an additional 431,493 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Swift Transportation by 6.7% in the 2nd quarter. State Street Corp now owns 1,837,500 shares of the transportation company’s stock valued at $68,084,000 after purchasing an additional 115,433 shares during the last quarter. 65.87% of the stock is owned by institutional investors and hedge funds.
Swift Transportation (NYSE KNX) traded down $0.12 during trading on Monday, reaching $38.94. 6,807,400 shares of the company’s stock traded hands, compared to its average volume of 1,733,421. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market capitalization of $6,928.71, a price-to-earnings ratio of 29.20 and a beta of 2.07. Swift Transportation has a 12-month low of $26.68 and a 12-month high of $44.45.
Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.05). The business had revenue of $521.61 million during the quarter, compared to analyst estimates of $1.33 billion. Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. During the same quarter last year, the firm posted $0.34 EPS. analysts predict that Swift Transportation will post 1.13 EPS for the current fiscal year.
The business 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 dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Thursday, November 30th.
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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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