Zacks Investment Research cut shares of Swift Transportation Company (NYSE:KNX) from a hold rating to a sell rating in a research note published on Tuesday, October 24th.
According to Zacks, “Knight-Swift Transportation Holdings Inc. through its Knight Transportation, Swift Transportation and Barr-Nunn branded subsidiaries, operates truckload fleet primarily in North America as well as extensive rail intermodal and non-asset based freight brokerage and logistics management services. The Company’s services includes irregular route, dedicated, expedited, port drayage and cross-border U.S; Mexico; Canada transport utilizing dry van, refrigerated, flatbed and specialized trailers and intermodal containers. Knight-Swift Transportation Holdings Inc., formerly known as Knight Transportation Inc., is headquartered in Phoenix, Arizona. “
Other research analysts have also recently issued reports about the company. BidaskClub cut Swift Transportation from a strong-buy rating to a buy rating in a report on Wednesday, July 12th. Barclays PLC lifted their price objective on 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 reaffirmed a buy rating and issued a $43.00 price objective (up previously from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. ValuEngine raised Swift Transportation from a hold rating to a buy rating in a research note on Tuesday, September 12th. Finally, Citigroup Inc. began coverage on Swift Transportation in a research note on Tuesday, September 19th. They issued a buy rating and a $48.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Swift Transportation currently has a consensus rating of Buy and a consensus price target of $41.13.
Swift Transportation (NYSE:KNX) opened at $38.38 on Tuesday. Swift Transportation has a 12-month low of $26.68 and a 12-month high of $44.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.41 and a current ratio of 1.32. The firm has a market capitalization of $6,815.64, a PE ratio of 28.79 and a beta of 2.07.
Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 EPS 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 business had revenue of $521.61 million during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the prior year, the firm posted $0.34 earnings per share. sell-side analysts predict that Swift Transportation will post 1.13 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Investors 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 0.63%. The ex-dividend date is Thursday, November 30th.
In related news, General Counsel Todd F. Carlson sold 3,000 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 last quarter. Victory Capital Management Inc. raised 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 buying an additional 1,390 shares during the last quarter. Riverhead Capital Management LLC raised its stake in 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 last quarter. Teacher Retirement System of Texas purchased a new stake in Swift Transportation in the second quarter valued at about $202,000. Finally, Toronto Dominion Bank purchased a new stake in Swift Transportation in the third quarter valued at about $234,000.
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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