Swift Transportation Co. (NYSE: SWFT) shares rose in value Thursday Dec 15 with slower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Analysts at JPMorgan Chase & Co. upgraded shares of Swift Transportation Co. (NYSE: SWFT) from Neutral to Overweight today. JPMorgan Chase & Co. currently has a rating of Overweight on the shares. A number of other analysts have spoken on the company in recent days, and Swift Transportation Co. has secured a consensus one-year price target of $26.18, higher than the opening price of $24.42, a difference of 10.65 percent. Swift Transportation Co. stock has a 52-week high of $27.18. Share prices often move to the upside on recommendations and new price targets of professional analysts.
Shares of Swift Transportation Co. (NYSE: SWFT) opened at $24.42 on Tuesday trading between $24.30 and $24.78, and last traded at $24.59, which represents an increase of $0.55 or 2.27% from the previous closing price.
Swift Transportation Co. (NYSE: SWFT) currently has a market cap of 3.25B.
Swift Transportation Co. (NYSE: SWFT) Average Daily Trading Volume
The stock’s average daily volume is 2,731,900 shares out of a total float 78,112,000 and some 306,605 shares traded hands yesterday, below the average. Momentum traders often use swings in trading volume to determine large volume aggregation or distribution by institutional investors, so look for trading volume to pick up in the coming days.
However, just a day of significant buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as an indicator that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts that research thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re researching.
Swift Transportation Co. (NYSE: SWFT) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors and how they affect moving averages,it allows for traders to make more effective decisions on trades.
Trades for Swift Transportation Co. (NYSE: SWFT) have ranged from $11.74 – 27.180, and the stock now has a 50-day MA of $24.31 and 200-day MA of $20.01. Today’s last price is 9.55%% lower than the 52 week high of $27.18.
Earnings growth is an important factor to look at when buying stocks and investors seek companies that have raised their earnings at least 25% or more for the past 3 years.
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of the website. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.