KeyBanc Starts Swift Transportation (SWFT) at Hold; Trying To Get Those Loads Delivered

August 16, 2012 3:15 PM EDT
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Price: $23.71 --0%

Rating Summary:
    17 Buy, 9 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 50
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KeyBanc initiates coverage on Swift Transportation (NYSE: SWFT) with a Hold.

Analyst, Todd C. Fowler, said, "As the largest publicly-traded truckload carrier and reflecting its current capital structure, shares have the most leverage to changes in truckload fundamentals within our coverage, particularly pricing dynamics. On an intermediate-term basis, we maintain a constructive outlook reflecting balanced industry-wide capacity at the current level of economic activity (including below trend housing and employment), which, in our view, could tighten and drive favorable pricing dynamics in a stronger economic scenario longer term. Near term, our recent due diligence suggests freight activity is impacted by low economic growth and uncertain shipper outlooks, only allowing for low single-digit rate increases that essentially cover cost inflation."

For an analyst ratings summary and ratings history on Swift Transportation click here. For more ratings news on Swift Transportation click here.

Shares of Swift Transportation closed at $8.64 yesterday.

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