Swift Transportation Company (KNX) Sees Strong Trading Volume

Swift Transportation Company (NYSE:KNX) saw unusually-strong trading volume on Monday . Approximately 1,149,150 shares were traded during trading, a decline of 42% from the previous session’s volume of 1,991,650 shares.The stock last traded at $40.83 and had previously closed at $40.85.

A number of research analysts have weighed in on KNX shares. Stephens raised Swift Transportation from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $36.00 to $42.00 in a research note on Monday, June 12th. BidaskClub raised Swift Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research lowered Swift Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Bank of America Corporation reissued a “buy” rating and set a $43.00 price target (up previously from $41.00) on shares of Swift Transportation in a research note on Monday, July 10th. Finally, Deutsche Bank AG set a $45.00 price target on Swift Transportation and gave the stock a “buy” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.44.

The company’s 50-day moving average is $37.62 and its 200-day moving average is $34.76. The company has a market cap of $3.27 billion, a P/E ratio of 41.81 and a beta of 1.96.

Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Swift Transportation had a net margin of 2.99% and a return on equity of 22.23%. The business had revenue of $273.20 million during the quarter, compared to analyst estimates of $283.88 million. During the same quarter in the previous year, the business earned $0.31 EPS. Swift Transportation’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Swift Transportation Company will post $1.01 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Wednesday, August 30th.

In related news, General Counsel Todd F. Carlson sold 3,000 shares of Swift Transportation stock in a transaction on Monday, August 14th. The shares were sold at an average price of $37.86, for a total value of $113,580.00. Following the completion of the sale, the general counsel now owns 23,638 shares of the company’s stock, valued at approximately $894,934.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director G D. Madden sold 1,875 shares of Swift Transportation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $36.52, for a total transaction of $68,475.00. Following the completion of the sale, the director now directly owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. 44.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors Inc. lifted its position in Swift Transportation by 2.1% during the 2nd quarter. Wasatch Advisors Inc. now owns 5,133,380 shares of the transportation company’s stock worth $190,192,000 after acquiring an additional 105,640 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Swift Transportation by 5.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 269,658 shares of the transportation company’s stock worth $9,991,000 after acquiring an additional 14,872 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Swift Transportation during the 2nd quarter worth $535,000. Ameritas Investment Partners Inc. lifted its position in Swift Transportation by 11.0% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,422 shares of the transportation company’s stock worth $238,000 after acquiring an additional 639 shares during the last quarter. Finally, Castleark Management LLC acquired a new position in Swift Transportation during the 2nd quarter worth $3,188,000. 74.86% of the stock is owned by hedge funds and other institutional investors.

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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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