Worse Rating Was Given to Swift Transportation Company (NYSE:SWFT) By a Broker. Lost “Outperform” Rating
Swift Transportation Company (NYSE:SWFT) Downgrade
Avondale Partners has decreased Swift Transportation Company (NYSE:SWFT) stock to “Market Perform” in a note shared with investors on Friday, 30 October. SWFT’s old rating was “Outperform”.
Out of 6 analysts covering Swift Transportation (NYSE:SWFT), 4 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 67% are positive. $27 is the highest target while $17 is the lowest. The $22 average target is 40.75% above today’s ($15.63) stock price. Swift Transportation was the topic in 9 analyst reports since August 13, 2015 according to StockzIntelligence Inc. Avondale downgraded the stock on October 30 to “Market Perform” rating. Cowen & Co maintained it with “Outperform” rating and $24 target price in a September 28 report. Barclays Capital maintained the shares of SWFT in a report on October 5 with “Overweight” rating. Finally, S&P Research maintained the stock with “Strong Buy” rating in a September 28 report.
The stock increased 1.17% or $0.18 on October 30, hitting $15.63. About 3.90 million shares traded hands. Swift Transportation Co (NYSE:SWFT) has declined 41.50% since March 30, 2015 and is downtrending. It has underperformed by 41.17% the S&P500.
The institutional sentiment decreased to 1.14 in Q2 2015. Its down 0.25, from 1.39 in 2015Q1. The ratio dived, as 47 funds sold all Swift Transportation Co shares owned while 66 reduced positions. 36 funds bought stakes while 93 increased positions. They now own 88.49 million shares or 4.88% less from 93.03 million shares in 2015Q1.
Ramsey Asset Management holds 4.06% of its portfolio in Swift Transportation Co for 139,750 shares. Cloud Gate Capital Llc owns 404,534 shares or 3.93% of their US portfolio. Moreover, Newland Capital Management Llc has 3.78% invested in the company for 205,000 shares. The Illinois-based 12Th Street Asset Management Company Llc has invested 3.02% in the stock. Glacier Peak Capital Llc, a Washington-based fund reported 201,809 shares.
Swift Transportation Company 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 has a market cap of $2.23 billion.
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.
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