Swift Transportation (SWFT) PT Raised to $22 at Stifel

Stifel analyst John Larkin reiterated a Buy rating and raised his price target on Swift Transportation (NYSE: SWFT) to $22.00 (from $20.00) following results after the close.

"The company reported adjusted 2Q16 EPS of $0.34. Our Stifel estimate had been $0.30, right in line with the Street consensus," Larkin commented. "The better than expected performance can once again be traced primarily to improved results from the company’s dedicated fleet operations.

The truckload segment posted a 2.4% y/y revenue growth contraction (excluding fuel surcharges) to $474 million and a 330 basis point unfavorable increase in adjusted operating ratio (to 89.3%).

The dedicated segment performance continued the positive trends which first emerged in 2015.

SWFT is trading just below the middle of its historical range on an absolute basis and between the bottom and the middle on a basis relative to the truckload sector, when compared to trailing 10-year adjusted trading statistics.

The firm's 2016 and 2017 EPS estimates remain unchanged at $1.30 and $1.45, respectively. And, they are introducing 2018 EPS estimate at $1.70.

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 $16.80 yesterday.

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