Swift Transportation (NYSE:SWFT) Receives a Downgrade
In an analyst note issued to clients on Wednesday morning, research analysts at Bank of America (Merrill Lynch)’s stock research division downgraded shares of Swift Transportation (NYSE:SWFT) stock from their previous Buy rating to a Neutral. They now have a $17.00 target PPS on SWFT or a 4.49% upside.
From a total of 19 analysts covering Swift Transportation (NYSE:SWFT) stock, 17 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 85% of the ratings are positive. The highest target price is $30 while the lowest target price is $16. The mean of all analyst targets is $22.34 with a 35.22% above today’s ($16.27) stock price. Swift Transportation was the topic of 9 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. Avondale downgraded shares on October 30 to “Market Perform” rating. Cowen & Co maintained shares with “Outperform” rating and $24 target share price in a report from a September 28. Barclays Capital maintained SWFT stock in a recent report from October 5 with “Overweight” rating. Finally, S&P Research maintained the stock with “Strong Buy” rating in a report issued on a September 28.
The stock closed the day at $16.27 during the previous session. It is down 34.32% since April 29, 2015 and is downtrending. It has underperformed by 34.12% the S&P500.
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 $2.33 billion.
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.” Get a free copy of the Zacks research report on Swift Transportation Co (SWFT).