Knight-Swift Transportation (NYSE:KNX) PT Raised to $58.00

Knight-Swift Transportation (NYSE:KNX) had its target price upped by Bank of America from $57.00 to $58.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target points to a potential upside of 10.41% from the stock’s previous close.

Several other research firms have also recently commented on KNX. TD Cowen raised their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup began coverage on shares of Knight-Swift Transportation in a research note on Wednesday, October 9th. They set a “neutral” rating and a $55.00 price objective on the stock. The Goldman Sachs Group cut their target price on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Susquehanna lifted their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Wolfe Research lowered Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.94.

Knight-Swift Transportation Stock Performance

KNX opened at $52.53 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $52.24 and its 200-day moving average is $50.38. The stock has a market cap of $8.50 billion, a PE ratio of 128.13, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the business earned $0.41 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. On average, analysts predict that Knight-Swift Transportation will post 1.06 earnings per share for the current year.

Insider Activity

In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Michael K. Liu sold 5,696 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the sale, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. This represents a 0.00 % decrease in their ownership of the stock. 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. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors have recently modified their holdings of KNX. Duality Advisers LP raised its holdings in shares of Knight-Swift Transportation by 1,686.4% during the first quarter. Duality Advisers LP now owns 66,098 shares of the transportation company’s stock worth $3,637,000 after acquiring an additional 62,398 shares in the last quarter. Virtu Financial LLC acquired a new stake in Knight-Swift Transportation in the first quarter valued at approximately $1,935,000. Wedge Capital Management L L P NC lifted its stake in shares of Knight-Swift Transportation by 9.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 263,033 shares of the transportation company’s stock valued at $13,131,000 after purchasing an additional 21,689 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Knight-Swift Transportation by 21.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,821 shares of the transportation company’s stock worth $4,942,000 after purchasing an additional 15,600 shares in the last quarter. Finally, Swedbank AB bought a new stake in Knight-Swift Transportation during the first quarter worth approximately $3,162,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.