Swift Transportation Company (NYSE:SWFT) Reaches New 1-Year High at $27.24
Swift Transportation Company (NYSE:SWFT) shares reached a new 52-week high during trading on Monday . The stock traded as high as $27.24 and last traded at $27.30, with a volume of 870,433 shares. The stock had previously closed at $26.70.
Several research analysts have recently issued reports on SWFT shares. UBS AG restated a “buy” rating and issued a $31.00 target price (up previously from $29.00) on shares of Swift Transportation in a report on Tuesday, July 25th. BidaskClub upgraded shares of Swift Transportation from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. Robert W. Baird restated an “outperform” rating on shares of Swift Transportation in a report on Wednesday, April 19th. Zacks Investment Research cut shares of Swift Transportation from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Vetr upgraded shares of Swift Transportation from a “buy” rating to a “strong-buy” rating and set a $27.80 target price for the company in a report on Monday, May 1st. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Swift Transportation currently has an average rating of “Buy” and an average target price of $28.18.
The company has a 50-day moving average price of $25.98 and a 200 day moving average price of $23.68. The stock has a market capitalization of $3.66 billion, a P/E ratio of 35.006 and a beta of 1.96.
Swift Transportation (NYSE:SWFT) last released its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $1,000 million during the quarter, compared to the consensus estimate of $1.02 billion. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. Analysts expect that Swift Transportation Company will post $0.98 earnings per share for the current year.
In other news, insider Richard Stocking sold 80,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $24.25, for a total transaction of $1,940,000.00. Following the completion of the transaction, the insider now owns 93,902 shares of the company’s stock, valued at $2,277,123.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Virginia Henkels sold 58,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $24.16, for a total transaction of $1,401,280.00. Following the transaction, the chief financial officer now directly owns 45,748 shares of the company’s stock, valued at approximately $1,105,271.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 221,280 shares of company stock valued at $5,341,261. 44.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Swift Transportation by 40,731.1% in the first quarter. BlackRock Inc. now owns 4,864,210 shares of the transportation company’s stock valued at $99,912,000 after buying an additional 4,852,297 shares during the period. Bank of New York Mellon Corp increased its position in shares of Swift Transportation by 972.9% in the second quarter. Bank of New York Mellon Corp now owns 4,783,355 shares of the transportation company’s stock valued at $126,758,000 after buying an additional 4,337,518 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Swift Transportation during the first quarter valued at about $38,449,000. UBS Oconnor LLC purchased a new position in shares of Swift Transportation during the first quarter valued at about $20,797,000. Finally, Alpine Associates Management Inc. purchased a new position in shares of Swift Transportation during the second quarter valued at about $25,225,000. 78.75% of the stock is owned by institutional investors.
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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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