Swift Transportation Company (NYSE:SWFT) announced its quarterly earnings data on Monday, July 24th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05, Bloomberg Earnings reports. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The firm had revenue of $1,000 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm earned $0.34 earnings per share. The business’s revenue for the quarter was down 1.2% on a year-over-year basis.
Shares of Swift Transportation (NYSE:SWFT) opened at 26.70 on Friday. The company has a market capitalization of $3.58 billion, a PE ratio of 34.23 and a beta of 1.96. The company has a 50-day moving average of $25.98 and a 200 day moving average of $23.68. Swift Transportation has a 52-week low of $18.05 and a 52-week high of $27.23.
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In related news, insider Cary M. Flanagan sold 2,454 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $23.93, for a total transaction of $58,724.22. Following the transaction, the insider now directly owns 6,743 shares of the company’s stock, valued at $161,359.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Virginia Henkels sold 20,325 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $23.90, for a total transaction of $485,767.50. Following the completion of the transaction, the chief financial officer now directly owns 53,772 shares in the company, valued at $1,285,150.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,280 shares of company stock worth $5,341,261. 44.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC raised its position in 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 period. James Investment Research Inc. raised its position in 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 period. Exane Derivatives acquired a new position in Swift Transportation during the first quarter worth $124,000. Ameritas Investment Partners Inc. acquired a new position in Swift Transportation during the first quarter worth $133,000. Finally, New York State Teachers Retirement System raised its position in Swift Transportation by 3.1% in the fourth quarter. New York State Teachers Retirement System now owns 6,600 shares of the transportation company’s stock worth $161,000 after buying an additional 200 shares during the period. 75.22% of the stock is currently owned by hedge funds and other institutional investors.
SWFT has been the topic of a number of recent research reports. Vetr cut shares of Swift Transportation from a “strong-buy” rating to a “buy” rating and set a $27.80 price objective on the stock. in a research note on Monday, April 24th. ValuEngine raised shares of Swift Transportation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. TheStreet cut shares of Swift Transportation from a “b-” rating to a “c” rating in a research note on Monday, April 24th. Stephens raised shares of Swift Transportation from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $26.00 to $30.00 in a research report on Monday, June 12th. Finally, Zacks Investment Research raised shares of Swift Transportation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $28.18.
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.
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