Swift Transportation (NYSE:SWFT) Receives Lower Rating From Longbow. What’s The Reasoning Behind This Move?


Swift Transportation (NYSE:SWFT) Receives a Downgrade

The Rating of Swift Transportation (NYSE:SWFT) shares have been lowered by Longbow from a Buy rating to a Neutral rating in an analyst note issued on Friday, 4 December.

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 $22.13 with a 44.01% above today’s ($14.7) stock price. Swift Transportation was the topic of 10 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on December 2 to “Neutral” rating. Cowen & Co maintained shares with “Outperform” rating and $24 target share price in a report from a September 28. UBS downgraded SWFT stock in a recent report from October 22 to “Neutral” rating. S&P Research maintained the rating on September 28. S&P Research has a “Strong Buy” rating and a $25 price target on shares. Finally, Evercore upgraded the stock to “Buy” rating in a report issued on an October 5.

The stock closed the day at $14.7 during the previous session. It is down 39.38% since May 1, 2015 and is downtrending. It has underperformed by 36.60% 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 $2.10 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).