The stock of Swift Transportation Co (NYSE:SWFT) hit a new 52-week high and has $33.11 target or 40.00% above today’s $23.65 share price. The 9 months bullish chart indicates low risk for the $3.16B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $33.11 price target is reached, the company will be worth $1.26B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.25M shares traded hands. Swift Transportation Co (NYSE:SWFT) has risen 30.39% since April 5, 2016 and is uptrending. It has outperformed by 28.44% the S&P500.
Swift Transportation Co (NYSE:SWFT) Ratings Coverage
Out of 11 analysts covering Swift Transportation (NYSE:SWFT), 8 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 73% are positive. Swift Transportation has been the topic of 25 analyst reports since August 13, 2015 according to StockzIntelligence Inc. Cowen & Co maintained the stock with “Outperform” rating in Monday, September 28 report. Stifel Nicolaus maintained the shares of SWFT in a report on Tuesday, October 25 with “Buy” rating. Avondale downgraded it to “Market Underperform” rating and $12.50 target price in Thursday, June 23 report. Barclays Capital maintained the stock with “Overweight” rating in Monday, October 5 report. On Friday, October 30 the stock rating was downgraded by Avondale to “Market Perform”. Longbow downgraded Swift Transportation Co (NYSE:SWFT) on Friday, December 4 to “Neutral” rating. Bank of America downgraded the shares of SWFT in a report on Wednesday, December 2 to “Neutral” rating. The stock has “Overweight” rating given by Morgan Stanley on Tuesday, February 23. On Monday, February 22 the stock rating was upgraded by Bank of America to “Buy”. The firm has “Neutral” rating by UBS given on Thursday, October 22.
According to Zacks Investment Research, “Swift Transportation Co., LLC operates as a multi-faceted transportation services company primarily engaged in providing truckload carrier services in North America. The Company’s transportation services include dry van, dedicated, temperature controlled, cross border, and port drayage operations; rail intermodal; freight brokerage; and third-party logistics operations. The Company conducts its operations through major terminals positioned near major freight centers and traffic lanes in the United States and Mexico. Its fleet includes tractors, trailers and intermodal containers. Swift Transportation Co., LLC is headquartered in Phoenix, Arizona.”
Insitutional Activity: The institutional sentiment increased to 0.89 in Q2 2016. Its up 0.04, from 0.85 in 2016Q1. The ratio improved, as 37 funds sold all Swift Transportation Co shares owned while 71 reduced positions. 33 funds bought stakes while 63 increased positions. They now own 98.58 million shares or 1.06% more from 97.55 million shares in 2016Q1.
Canada Pension Plan Inv Board has 267,001 shares for 0.02% of their US portfolio. First Tru Advsr L P accumulated 0% or 67,743 shares. Stephens Inc Ar holds 57,280 shares or 0.04% of its portfolio. Parametric Assocs Lc holds 286,337 shares or 0.01% of its portfolio. Goldman Sachs Grp Incorporated reported 490,686 shares or 0% of all its holdings. Moreover, Pier Cap Ltd has 0.5% invested in Swift Transportation Co (NYSE:SWFT) for 178,797 shares. Quantitative Systematic Strategies Llc holds 0.35% or 50,046 shares in its portfolio. Leuthold Gp last reported 54,939 shares in the company. Moreover, Vanguard Group Inc Inc has 0.01% invested in Swift Transportation Co (NYSE:SWFT) for 6.01 million shares. The Massachusetts-based Frontier Capital Co Ltd Com has invested 0.22% in Swift Transportation Co (NYSE:SWFT). Wells Fargo & Com Mn last reported 1.21M shares in the company. Secor Capital Lp accumulated 0.12% or 61,811 shares. Fisher Asset Mngmt Limited Liability Company has 0.06% invested in the company for 1.82 million shares. Macquarie holds 0.02% of its portfolio in Swift Transportation Co (NYSE:SWFT) for 609,065 shares. Rothschild Asset Mgmt Incorporated accumulated 189,498 shares or 0.05% of the stock.
More recent Swift Transportation Co (NYSE:SWFT) news were published by: Wsj.com which released: “Swift Transportation Posts Higher Profit, Lower Revenue” on October 24, 2016. Also Azcentral.com published the news titled: “Swift Transportation celebrates 50th anniversary” on September 16, 2016. Wsj.com‘s news article titled: “Swift Transportation CEO Restructures Family Debts” with publication date: May 24, 2016 was also an interesting one.
SWFT Company Profile
Swift Transportation Company (Swift Transportation Co.), incorporated on May 20, 2010, 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 Firm operates in four divisions: Truckload, Dedicated, Swift Refrigerated and Intermodal. The other segment includes the Company’s logistics and freight brokerage services, as well as support services provided by its subsidiaries to clients and owner-operators, including repair and maintenance shop services, equipment leasing and insurance. The Firm principally operates in short- to medium-haul traffic lanes around its terminals and customer locations.
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