Swift Transportation Company (KNX) Upgraded to “Buy” at Knight Equity
A number of other brokerages have also recently weighed in on KNX. ValuEngine upgraded shares of Swift Transportation from a hold rating to a buy rating in a report on Tuesday, September 12th. Zacks Investment Research cut shares of Swift Transportation from a buy rating to a hold rating in a report on Saturday, July 29th. Seaport Global Securities restated a buy rating on shares of Swift Transportation in a report on Thursday, September 21st. UBS AG dropped their price objective on shares of Swift Transportation from $53.00 to $51.00 and set a buy rating for the company in a report on Tuesday, November 7th. Finally, KeyCorp upgraded shares of Swift Transportation from a sector weight rating to an overweight rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $41.13.
Swift Transportation (KNX) traded down $0.12 during trading on Tuesday, hitting $38.94. 1,857,459 shares of the stock were exchanged, compared to its average volume of 1,733,422. The stock has a market cap of $6,800.00, a P/E ratio of 29.06 and a beta of 0.92. Swift Transportation has a twelve month low of $26.68 and a twelve month 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.
Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.05). The company had revenue of $521.61 million during the quarter, compared to analysts’ expectations of $1.33 billion. Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. During the same period last year, the firm posted $0.34 earnings per share. equities research analysts forecast that Swift Transportation will post 1.13 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.62%. The ex-dividend date is Thursday, November 30th.
In other news, Director Michael Garnreiter sold 2,500 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $38.50, for a total value of $96,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.90% of the company’s stock.
Several institutional investors have recently modified their holdings of KNX. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Swift Transportation by 11.5% in the 2nd 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 in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Swift Transportation by 58.2% in the 2nd 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 in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Swift Transportation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock valued at $200,000 after buying an additional 807 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Swift Transportation in the 2nd quarter valued at $202,000. Finally, Capital One National Association acquired a new position in shares of Swift Transportation in the 2nd quarter valued at $212,000.
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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