Todd F. Carlson Sells 9,000 Shares of Swift Transportation Company (KNX) Stock
Swift Transportation Company (NYSE:KNX) General Counsel Todd F. Carlson sold 9,000 shares of Swift Transportation stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.24, for a total value of $353,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Swift Transportation Company (NYSE:KNX) traded up $0.25 during trading on Thursday, hitting $39.92. The stock had a trading volume of 1,458,500 shares, compared to its average volume of 1,732,244. Swift Transportation Company has a fifty-two week low of $26.68 and a fifty-two week high of $44.45. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $7,058.60, a P/E ratio of 29.75 and a beta of 2.07.
Swift Transportation (NYSE:KNX) last issued its 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). Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. The firm had revenue of $521.61 million during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm posted $0.34 earnings per share. analysts forecast that Swift Transportation Company will post 1.13 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.60%.
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Hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased 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 worth $104,000 after purchasing an additional 288 shares during the last quarter. Riverhead Capital Management LLC increased 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 worth $187,000 after purchasing an additional 1,863 shares during the last quarter. Victory Capital Management Inc. increased 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 worth $200,000 after purchasing an additional 807 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Swift Transportation in the second quarter worth about $202,000. Finally, Strs Ohio increased its holdings in shares of Swift Transportation by 205.3% in the second quarter. Strs Ohio now owns 5,800 shares of the transportation company’s stock worth $214,000 after purchasing an additional 3,900 shares during the last quarter. 65.87% of the stock is currently owned by hedge funds and other institutional investors.
KNX has been the topic of several analyst reports. Deutsche Bank AG set a $45.00 target price on Swift Transportation and gave the company a “buy” rating in a research report on Monday, July 31st. UBS Group AG lifted their target price on Swift Transportation from $43.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, September 29th. Seaport Global Securities reiterated a “buy” rating on shares of Swift Transportation in a research report on Thursday, September 21st. Citigroup Inc. initiated coverage on Swift Transportation in a research report on Tuesday, September 19th. They set a “buy” rating and a $48.00 target price on the stock. Finally, ValuEngine upgraded Swift Transportation from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $41.13.
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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