The Deutsche Bank AG Initiates Coverage on Swift Transportation Co. (SWFT)

The Deutsche Bank AG Initiates Coverage on Swift Transportation Co. (SWFT)

Analysts at Deutsche Bank AG initiated coverage on shares of Swift Transportation Co. (NYSE:SWFT) in a report released on Wednesday. The brokerage set a “buy” rating and a $28.00 price target on the stock. Deutsche Bank AG’s target price indicates a potential upside of 10.41% from the company’s previous close.

Several other analysts have also commented on SWFT. Citigroup Inc. dropped their target price on Swift Transportation from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Zacks Investment Research raised Swift Transportation from a “sell” rating to a “hold” rating in a report on Friday, September 2nd. Stifel Nicolaus raised their price objective on Swift Transportation from $20.00 to $22.00 and gave the company a “buy” rating in a report on Friday, July 22nd. Robert W. Baird raised their price objective on Swift Transportation from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, September 12th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Swift Transportation in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Swift Transportation currently has an average rating of “Buy” and an average target price of $21.03.

Shares of Swift Transportation (NYSE:SWFT) traded up 0.63% during mid-day trading on Wednesday, hitting $25.36. The stock had a trading volume of 720,902 shares. Swift Transportation has a one year low of $11.74 and a one year high of $25.60. The stock has a market cap of $3.36 billion, a P/E ratio of 20.27 and a beta of 1.93. The firm has a 50 day moving average of $22.51 and a 200-day moving average of $19.08.

Swift Transportation (NYSE:SWFT) last posted its earnings results on Monday, October 24th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. Swift Transportation had a return on equity of 32.99% and a net margin of 4.54%. Swift Transportation’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.31 earnings per share. Equities research analysts expect that Swift Transportation will post $1.36 earnings per share for the current fiscal year.

In other news, VP Kenneth C. Runnels sold 155,726 shares of Swift Transportation stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $24.38, for a total value of $3,796,599.88. Following the completion of the sale, the vice president now directly owns 131,892 shares of the company’s stock, valued at $3,215,526.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kirk Steven Richard Van sold 11,492 shares of Swift Transportation stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $24.75, for a total value of $284,427.00. Following the completion of the sale, the vice president now directly owns 20,233 shares of the company’s stock, valued at $500,766.75. The disclosure for this sale can be found here. 44.90% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of SWFT. RWC Asset Management LLP purchased a new stake in shares of Swift Transportation during the third quarter worth $2,149,000. Lombard Odier Asset Management USA Corp boosted its stake in shares of Swift Transportation by 110.3% in the third quarter. Lombard Odier Asset Management USA Corp now owns 50,000 shares of the company’s stock worth $1,074,000 after buying an additional 26,223 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Swift Transportation by 13.3% in the third quarter. Mackenzie Financial Corp now owns 192,269 shares of the company’s stock worth $4,128,000 after buying an additional 22,522 shares during the last quarter. Scopus Asset Management L.P. purchased a new stake in shares of Swift Transportation during the third quarter worth $12,286,000. Finally, Green Square Capital LLC boosted its stake in shares of Swift Transportation by 27.4% in the third quarter. Green Square Capital LLC now owns 27,733 shares of the company’s stock worth $595,000 after buying an additional 5,967 shares during the last quarter. 77.97% of the stock is owned by institutional investors and hedge funds.

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