KeyBanc Downgrades Swift Transportation Co to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Swift Transportation Co(NYSE:SWFT). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by KeyBanc was issued on Jul 12, 2016.

In a different note, On Jul 11, 2016, Citigroup said it Maintains its rating on Swift Transportation Co. In the research note, the firm Lowers the price-target to $21.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 23, 2016, Avondale Partners said it Downgrades its rating on Swift Transportation Co. In the research note, the firm Lowers the price-target to $15.00 per share. The shares have been rated ‘Market Underperform’ by the firm.

Swift Transportation Co (SWFT) made into the market gainers list on Fridays trading session with the shares advancing 1.64% or 0.28 points. Due to strong positive momentum, the stock ended at $17.35, which is also near the day’s high of $17.655. The stock began the session at $17.14 and the volume stood at 34,52,706 shares. The 52-week high of the shares is $24.76 and the 52 week low is $11.74. The company has a current market capitalization of $2,344 M and it has 13,50,95,190 shares in outstanding.

Swift Transportation Co(SWFT) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $967.80M. Analysts had an estimated revenue of $1.00B. Earnings per share were $0.25. Analysts had estimated an EPS of $0.21.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2016, Jerry Moyes (CEO) sold 17,300 shares at $18.05 per share price.Also, On Feb 29, 2016, Kenneth C Runnels (Executive VP Fleet Operations) sold 1,435 shares at $17.94 per share price.On Feb 26, 2016, Virginia Henkels (Chief Financial Officer) sold 3,825 shares at $17.95 per share price, according to the Form-4 filing with the securities and exchange commission.

Swift Transportation Company (Swift Transportation Co.) is a multi-faceted transportation services company operating the fleet of truckload equipment in North America from over 40 terminals near key freight centers and traffic lanes. The Company operates in four segments: Truckload which consists of one way movements over irregular routes throughout the United States Mexico and Canada; Dedicated through which the Company devotes use of equipment to specific customers and offers tailored solutions under long-term contracts; Central Refrigerated which represents the core operations of Central and primarily consists of shipments for customers that require temperature-controlled trailers and Intermodal segment which includes revenue generated by moving freight over the rail in the Company’s containers and other trailing equipment combined with revenue for drayage to transport loads between the railheads and customer locations.

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