Gluskin Sheff & Assoc Inc. Acquires Shares of 317,967 Swift Transportation Co (SWFT)

Gluskin Sheff & Assoc Inc. acquired a new position in shares of Swift Transportation Co (NYSE:SWFT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 317,967 shares of the transportation company’s stock, valued at approximately $10,669,000. Gluskin Sheff & Assoc Inc. owned 0.24% of Swift Transportation as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of SWFT. Harvest Fund Management Co. Ltd purchased a new position in shares of Swift Transportation during the fourth quarter worth $115,000. TrimTabs Asset Management LLC raised its position in shares of Swift Transportation by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 5,013 shares of the transportation company’s stock worth $103,000 after buying an additional 2,360 shares during the last quarter. James Investment Research Inc. raised its position in shares of Swift Transportation by 51.5% in the first quarter. James Investment Research Inc. now owns 5,150 shares of the transportation company’s stock worth $106,000 after buying an additional 1,750 shares during the last quarter. Exane Derivatives purchased a new position in shares of Swift Transportation during the first quarter worth $124,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Swift Transportation during the first quarter worth $133,000. Hedge funds and other institutional investors own 73.76% of the company’s stock.

Institutional Ownership by Quarter for Swift Transportation (NYSE:SWFT)

Shares of Swift Transportation Co (NYSE:SWFT) traded down 1.05% during mid-day trading on Friday, reaching $22.65. 1,269,295 shares of the company’s stock traded hands. The company’s 50-day moving average price is $23.10 and its 200-day moving average price is $23.20. The stock has a market capitalization of $3.02 billion, a PE ratio of 24.84 and a beta of 1.71. Swift Transportation Co has a 12-month low of $14.31 and a 12-month high of $27.18.

Swift Transportation (NYSE:SWFT) last posted its quarterly earnings results on Monday, April 24th. The transportation company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.04. Swift Transportation had a net margin of 4.05% and a return on equity of 29.46%. The firm had revenue of $963.80 million during the quarter, compared to analysts’ expectations of $970.74 million. During the same period last year, the company earned $0.25 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Analysts anticipate that Swift Transportation Co will post $0.96 earnings per share for the current year.

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A number of brokerages have recently weighed in on SWFT. Raymond James Financial, Inc. restated a “market perform” rating on shares of Swift Transportation in a research report on Tuesday, April 11th. They noted that the move was a valuation call. Vetr upgraded Swift Transportation from a “buy” rating to a “strong-buy” rating and set a $27.80 price objective for the company in a research report on Monday, May 1st. Robert W. Baird restated an “outperform” rating on shares of Swift Transportation in a research report on Wednesday, April 19th. TheStreet lowered Swift Transportation from a “b-” rating to a “c” rating in a research report on Monday, April 24th. Finally, Vertical Research began coverage on Swift Transportation in a research report on Thursday, April 13th. They set a “buy” rating and a $34.00 price objective for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $25.81.

In other news, Director Richard H. Dozer sold 1,833 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $24.26, for a total value of $44,468.58. Following the completion of the sale, the director now owns 15,572 shares of the company’s stock, valued at approximately $377,776.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 44.90% of the company’s stock.

Swift Transportation Company Profile

Swift Transportation Company is a multi-faceted transportation services company. As of December 31, 2016, the Company operated fleets of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company’ segments include Truckload, Dedicated, Swift Refrigerated and Intermodal.

12 Month Chart for NYSE:SWFT

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