NEW YORK (TheStreet) -- Shares of Swift Transportation (SWFT) were up 6.49% to $21 in after-hours trading on Thursday as the Phoenix-based transportation services company's CEO Jerry Moyes is retiring at the end of 2016.
Moyes will be succeeded by Richard Stocking, the company's president and COO, Swift Transportation said in a statement this afternoon.
Stocking and Moyes will serve as Co-CEOs until Moyes retires on Dec. 31.
Moyes founded the truckload motor shipping carrier 50 years ago.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
The team rates Swift Transportation as a Buy with a ratings score of B. This is driven by a number of strengths, which it believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks the team covers. The company's strengths can be seen in multiple areas, such as its notable return on equity and increase in stock price during the past year. The team feels its strengths outweigh the fact that the company has had sub par growth in net income.You can view the full analysis from the report here: SWFT