Swift Transportation CompanyNYSE
Swift Transportation: Just A Pause, Not The Stop
Darspal S Mann
Darspal S Mann
Tue, Nov. 22, 11:08 AM
- Analyst John Larkin takes advantage of big runs higher of late to downgrade a trio of names. He expects a forthcoming "rationalization of valuations."
- Downgraded to Hold from Buy: Hub Group (HUBG -0.6%), CH Robinson (CHRW -0.4%), Swift Transportation (SWFT flat)
- YTD gains: SWFT +84%, HUBG +29%, CHRW +17%
- Source: Bloomberg
Sat, Oct. 29, 10:42 AM
- The trucking industry is anxiously waiting for the release of key heavy-duty truck order releases next week as it assesses demand for 2017.
- Overcapacity has impacted trucking pricing this year and forced several companies to idle parts of their fleets and rethink strategy. More than half of trucking stocks with a market cap of over $50M are showing a negative YTD return.
- There's a sense that the extended downturn in freight demand could be bottoming out, a theory that could be confirmed by the upcoming reports from ACT Research and FTR.
- Looking further down the road, it can't be ignored that autonomous vehicle technology could have an impact with trucking services, logistics firms and truck makers. The dramatic delivery of 50K Budweisers (NYSE:BUD) by self-driving transport company Otto (Private:UBER) is considered by some analysts as much more than a publicity stunt.
- Ford (NYSE:F) announced last summer that it's developing smaller self-driving delivery trucks and Google has a USPTO-approved patent on a self-driving delivery truck. On the long-haul side, Daimler's (OTCPK:DDAIF) Freightliner is still testing autonomous 18-wheelers.
- Related article: MIT Technology Review on Uber Freight
- Related stocks: ULH, USAK, SAIA, PATI, PTSI, JBHT, KNX, SWFT, LSTR, MRTN, HTLD, WERN, ECHO, ODFL, CVTI, CGI, ARCB, YRCW, NAV, CMI, PCAR, FDX, UPS.
Tue, Oct. 25, 1:50 PM
- Swift Transportation (SWFT +4.6%) is upgraded to Buy from Neutral with a $24 price target, raised from $22, at UBS following better than expected Q3 earnings, as the firm now considers the shares compelling even with limited visibility to the exact timing of a truckload market turnaround.
- UBS says while SWFT benefited from a few one off items, it was still a very solid quarter with 9% EPS growth of 9% providing a sharp contrast to falling earnings at other truckload companies, and boosts the firm's confidence in SWFT's ability to execute amid a weak truckload market.
- UBS adds that a "significant turn" in pricing is likely in either later 2017 or 2018, which should support strong EPS growth for SWFT.
Tue, Oct. 25, 9:16 AM
Mon, Oct. 24, 4:08 PM
Sun, Oct. 23, 5:35 PM
Fri, Sep. 9, 9:17 AM
Thu, Sep. 8, 5:41 PM
Thu, Sep. 8, 4:39 PM
- Swift Transportation (NYSE:SWFT) +6.5% AH after announcing that Founder and CEO Jerry Moyes will retire effective Dec. 31, to be succeeded by current President and COO Richard Stocking; Moyes will remain on the company's board.
- Moyes formed Common Market Distribution Corp. in 1966, which was later merged with Swift Transportation, which he also founded.
- Stocking joined SWFT in 1992 and has served as President and COO since 2010.
Wed, Sep. 7, 12:03 PM
- Transportation stocks are solidly higher across select parts of the broad sector.
- Some technical traders think the sector is on a breakout pattern, while analysts are honed in on conference presentations where Q3 updates are being spilled.
- Notable gainers include Diana Shipping (DSX +8.3%), Scorpio Bulkers (SALT +7.5%), Safe Bulkers (SB +4.8%), and Panagaea Logistics Solutions (PANL +13.4%), Celadon Group (CGI +4.2%), USA Truck (USAK +3.5%), American Airlines Group (AAL +6.2%), United Continental (UAL +5.6%), Delta Air Lines (DAL +5.4%), CSX Corp (CSX +1.6%), and Roadrunner Transportation Systems (RRTS +2.1%), and Swift Transportation (SWFT +0.8%).
- The Dow Jones Transportation Index is up 1.11% vs. slight declines for broad market averages.
Tue, Aug. 16, 4:08 PM
- A major announcement from Ford that it will develop a 100% autonomous vehicle in 2021 could have far-reaching implications in a variety of sectors.
- “The first application of the fully autonomous vehicle will be commercial applications, whether it’s ride-hailing or parcel delivery,” Ford CEO Mark Fields told Recode. Companies that could be eyeing the implication of purchasing self-driving car fleets include FedEx (NYSE:FDX), Amazon (NASDAQ:AMZN), UPS (NYSE:UPS), Domino's Pizza (NYSE:DPZ), and Papa John's International (NASDAQ:PZZA).
- There's also relevance on Ford's big bet on autonomy for Avis Budget Group (NASDAQ:CAR) and Hertz (NYSE:HTZ).
- The trucking and shipping sectors (ARCB, KNX, MRTN, CGI, YRCW, HTLD, UACL, SWFT) will also be monitoring how autonomous vehicle technology fits into the future.
- Previously: Ford to produce mass market autonomous vehicle (Aug. 16)
Fri, Jul. 22, 11:23 AM
- The trucking stocks is revving higher after solid earnings reports from Swift Transportation (SWFT +12.4%) and Werner Enterprises (WERN +4.8%). Though quarterly profit dropped at both companies, commentary from management indicated the freight market is poised to improve.
- Notable movers include Covenant Transportation Group (CVTI +7.9%), Celadon Group (CGI +4.7%), Heartland Express (HTLD +4%), Knight Transportation (KNX +3.9%), and Old Dominion Freight Line (ODFL +3.1%).
Thu, Jul. 21, 4:11 PM
Wed, Jul. 20, 5:35 PM
Tue, Jun. 21, 10:02 AM
- The trucking and logistics sector is rattled by a weak read from Werner Enterprises (WERN -8.1%) on market conditions.
- The company warns it's having trouble with rate negotiations and faces driver wage pressure. Q2 EPS guidance was taken lower by Werner.
- Decliners in the sector off in early trading include Swift Transportation (SWFT -6.4%), Knight Transportation (KNX -6%), Heartland Express (HTLD -2.9%), Roadrunner Transportation Systems (RRTS -3.3%), Celadon Group (CGI -7.3%), Old Dominion Freight Lines (ODFL -2.3%), and XPO Logistics (XPO -1.4%).
- Previously: Werner Enterprises guides below expectation for Q2 (June 20)
Tue, Jun. 21, 9:12 AM