Swift Transportation Company (KNX) Stock Rating Lowered by Zacks Investment Research

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.

TRADEMARK VIOLATION NOTICE: “Swift Transportation Company (KNX) Stock Rating Lowered by Zacks Investment Research” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/12/swift-transportation-company-knx-downgraded-by-zacks-investment-research.html.

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.

Get a free copy of the Zacks research report on Swift Transportation (KNX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Swift Transportation (NYSE:KNX)

Receive News & Ratings for Swift Transportation Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Swift Transportation Company and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply