Evercore ISI Lowers Knight-Swift Transportation (NYSE:KNX) Price Target to $49.00

Knight-Swift Transportation (NYSE:KNX) had its price target dropped by Evercore ISI from $55.00 to $49.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective points to a potential downside of 4.24% from the stock’s current price.

KNX has been the subject of a number of other research reports. Susquehanna raised their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Bank of America lifted their price objective on Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company assumed coverage on Knight-Swift Transportation in a report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price target for the company. UBS Group lowered their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Barclays lifted their price objective on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.71.

Knight-Swift Transportation Stock Performance

Shares of KNX traded down $0.85 during mid-day trading on Thursday, reaching $51.17. 264,355 shares of the company’s stock were exchanged, compared to its average volume of 2,055,668. 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 stock has a market capitalization of $8.28 billion, a PE ratio of 76.09, a price-to-earnings-growth ratio of 1.50 and a beta of 0.93. The business’s fifty day simple moving average is $52.44 and its 200-day simple moving average is $50.56. 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 announced its 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). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the business posted $0.49 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. On average, equities research analysts expect that Knight-Swift Transportation will post 1.09 earnings per share for the current year.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 30,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the transaction, the chairman now directly owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the stock in a transaction on Friday, August 16th. The stock was 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 owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the transaction, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The disclosure for this sale can be found here. Insiders have sold a total of 85,196 shares of company stock valued at $4,367,869 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new position in shares of Knight-Swift Transportation in the first quarter worth $25,000. GAMMA Investing LLC lifted its holdings in shares of Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after buying an additional 253 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after buying an additional 727 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after buying an additional 200 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the period. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.