Brokerages Set Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Target Price at $56.00

Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have given a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $56.38.

Several brokerages have recently issued reports on KNX. Susquehanna increased their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Bank of America raised their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley reduced their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ploeg David Vander sold 500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in 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 acquiring an additional 727 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Knight-Swift Transportation by 87.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 348 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in 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 acquiring an additional 200 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the period. Finally, Blue Trust Inc. lifted its holdings in 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 acquiring an additional 579 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Trading Down 0.5 %

NYSE KNX opened at $55.63 on Wednesday. The firm’s 50-day moving average is $53.08 and its two-hundred day moving average is $51.06. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $9.01 billion, a P/E ratio of 241.88, a PEG ratio of 1.90 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, sell-side analysts anticipate that Knight-Swift Transportation will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 278.27%.

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.