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

Knight-Swift Transportation (NYSE:KNX) had its price objective boosted by Susquehanna from $45.00 to $48.00 in a research note published on Thursday, Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

KNX has been the topic of several other reports. Barclays lifted their target price on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an overweight rating in a research report on Tuesday, August 20th. Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a research note on Friday, June 7th. They issued an overweight rating and a $56.00 price objective on the stock. Bank of America increased their price objective on Knight-Swift Transportation from $54.00 to $55.00 and gave the company a buy rating in a report on Monday, July 22nd. Raymond James reduced their price target on Knight-Swift Transportation from $58.00 to $57.00 and set a strong-buy rating on the stock in a research report on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a neutral rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $57.00.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $54.05 on Thursday. The firm’s fifty day moving average price is $52.24 and its two-hundred day moving average price is $50.57. The stock has a market cap of $8.74 billion, a PE ratio of 80.67, a PEG ratio of 1.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company’s revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, equities analysts expect that Knight-Swift Transportation will post 1.1 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.18%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently made changes to their positions in KNX. Commonwealth Equity Services LLC boosted its stake in Knight-Swift Transportation by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock valued at $1,230,000 after purchasing an additional 196 shares during the last quarter. United Services Automobile Association boosted its position in shares of Knight-Swift Transportation by 1.6% during the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after buying an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares in the last quarter. Sompo Asset Management Co. Ltd. raised its position in Knight-Swift Transportation by 4.8% in the 4th quarter. Sompo Asset Management Co. Ltd. now owns 5,000 shares of the transportation company’s stock valued at $288,000 after buying an additional 230 shares during the last quarter. Finally, MQS Management LLC lifted its stake in Knight-Swift Transportation by 3.7% during the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock valued at $348,000 after acquiring an additional 250 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

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.