UBS AG Raises Swift Transportation Company (KNX) Price Target to $53.00
Swift Transportation Company (NYSE:KNX) had its price target raised by UBS AG from $43.00 to $53.00 in a research report report published on Friday, www.benzinga.com reports. The firm currently has a buy rating on the transportation company’s stock.
Other research analysts have also recently issued reports about the stock. Buckingham Research began coverage on shares of Swift Transportation in a report on Monday, August 21st. They issued a buy rating and a $43.00 target price for the company. BidaskClub upgraded shares of Swift Transportation from a hold rating to a buy rating in a report on Wednesday, June 14th. Deutsche Bank AG set a $45.00 price target on shares of Swift Transportation and gave the company a buy rating in a report on Monday, July 31st. Stephens upgraded shares of Swift Transportation from an equal weight rating to an overweight rating and upped their price target for the company from $36.00 to $42.00 in a research report on Monday, June 12th. Finally, Seaport Global Securities restated a buy rating on shares of Swift Transportation in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $40.06.
Swift Transportation (NYSE:KNX) opened at 41.55 on Friday. The stock has a market cap of $3.35 billion, a P/E ratio of 42.84 and a beta of 1.97. Swift Transportation has a 52-week low of $26.85 and a 52-week high of $44.45. The firm’s 50-day moving average is $38.27 and its 200-day moving average is $35.07.
Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.25. The business had revenue of $273.20 million during the quarter, compared to analyst estimates of $283.88 million. Swift Transportation had a return on equity of 22.23% and a net margin of 2.99%. Swift Transportation’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Equities research analysts predict that Swift Transportation will post $1.21 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.58%.
In other news, General Counsel Todd F. Carlson sold 3,000 shares of Swift Transportation stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the sale, the general counsel now directly owns 23,638 shares in the company, valued at approximately $894,934.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director G D. Madden sold 1,875 shares of the business’s 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 sale, the director now directly owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. Corporate insiders own 44.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Swift Transportation by 11.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 288 shares in the last quarter. LS Investment Advisors LLC lifted its stake in Swift Transportation by 33.5% in the first quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock valued at $105,000 after acquiring an additional 844 shares during the last quarter. FNY Managed Accounts LLC acquired a new stake in Swift Transportation in the first quarter valued at approximately $122,000. Victory Capital Management Inc. lifted its stake in Swift Transportation by 43.6% in the first quarter. Victory Capital Management Inc. now owns 4,578 shares of the transportation company’s stock valued at $144,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in Swift Transportation in the first quarter valued at 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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