Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $48.00

Knight-Swift Transportation (NYSE:KNX) had its target price lifted by investment analysts at Susquehanna from $45.00 to $48.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective would suggest a potential downside of 9.45% from the company’s current price.

Several other equities analysts have also weighed in on KNX. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. TD Cowen lifted their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI dropped their price target on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Barclays raised their price objective on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Finally, UBS Group lowered their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $53.01 on Thursday. The company has a 50 day simple moving average of $52.06 and a 200-day simple moving average of $50.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 79.12, a price-to-earnings-growth ratio of 1.44 and a beta of 0.93. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. Knight-Swift Transportation’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. Equities research analysts predict that Knight-Swift Transportation will post 1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the transaction, the director now directly owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock worth $4,367,869 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky lifted its position in Knight-Swift Transportation by 46.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 76,849 shares of the transportation company’s stock valued at $3,837,000 after purchasing an additional 24,451 shares during the period. Brandes Investment Partners LP acquired a new stake in shares of Knight-Swift Transportation in the 2nd quarter valued at approximately $30,251,000. Creative Planning raised its position in shares of Knight-Swift Transportation by 39.7% in the 2nd quarter. Creative Planning now owns 20,188 shares of the transportation company’s stock valued at $1,008,000 after acquiring an additional 5,736 shares during the period. Susquehanna Fundamental Investments LLC raised its position in shares of Knight-Swift Transportation by 862.3% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 49,106 shares of the transportation company’s stock valued at $2,451,000 after acquiring an additional 44,003 shares during the period. Finally, Millennium Management LLC increased its stake in Knight-Swift Transportation by 309.7% during the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after purchasing an additional 807,572 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.