Barclays Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price increased by Barclays from $62.00 to $68.00 in a report released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

KNX has been the subject of a number of other reports. TD Cowen increased their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Morgan Stanley lowered their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price on the stock. in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Finally, StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.38.

Knight-Swift Transportation Stock Up 1.1 %

Knight-Swift Transportation stock opened at $57.06 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99. The business’s 50-day moving average price is $52.87 and its 200 day moving average price is $50.91. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of 248.10, a price-to-earnings-growth ratio of 2.06 and a beta of 0.93.

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

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.27%.

Insider Activity

In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction that occurred 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 sale, the director now directly owns 21,833 shares in the company, valued at $1,164,135.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators boosted its stake in shares of Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 348 shares in the last quarter. Versant Capital Management Inc increased its position 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 in the last quarter. Brown Brothers Harriman & Co. increased its position 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 in the last quarter. Blue Trust Inc. boosted its position in shares of Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after buying an additional 579 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after buying an additional 343 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.