Knight-Swift Transportation (NYSE:KNX) Given New $55.00 Price Target at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its target price hoisted by Bank of America from $54.00 to $55.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Other analysts also recently issued research reports about the stock. Stephens decreased their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Stifel Nicolaus lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and cut their target price for the company from $53.00 to $47.00 in a research note on Friday, April 26th. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and decreased their price target for the stock from $63.00 to $53.00 in a research note on Thursday, April 18th. Wells Fargo & Company initiated coverage on Knight-Swift Transportation in a research note on Friday, June 7th. They set an overweight rating and a $56.00 price objective on the stock. Finally, StockNews.com upgraded Knight-Swift Transportation to a sell rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation currently has an average rating of Moderate Buy and an average price target of $56.07.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock opened at $49.03 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s fifty day moving average price is $48.67 and its 200 day moving average price is $52.16. The company has a market capitalization of $7.92 billion, a price-to-earnings ratio of 73.18, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. Knight-Swift Transportation has a 12-month low of $45.55 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $0.73 EPS. Knight-Swift Transportation’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts forecast that Knight-Swift Transportation will post 1.21 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date of this dividend was Monday, June 10th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 95.52%.

Institutional Trading of Knight-Swift Transportation

Several hedge funds have recently added to or reduced their stakes in the business. Dynamic Advisor Solutions LLC bought a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at about $212,000. Raymond James & Associates lifted its stake in shares of Knight-Swift Transportation by 1.5% in the 4th quarter. Raymond James & Associates now owns 24,144 shares of the transportation company’s stock worth $1,392,000 after acquiring an additional 354 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Knight-Swift Transportation by 78.3% in the fourth quarter. Pacer Advisors Inc. now owns 24,372 shares of the transportation company’s stock valued at $1,405,000 after acquiring an additional 10,702 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Knight-Swift Transportation by 3,637.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock valued at $10,701,000 after acquiring an additional 180,659 shares in the last quarter. Finally, Tectonic Advisors LLC increased its stake in shares of Knight-Swift Transportation by 2.9% during the fourth quarter. Tectonic Advisors LLC now owns 87,472 shares of the transportation company’s stock valued at $5,043,000 after acquiring an additional 2,463 shares during the period. Institutional investors 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.