The Goldman Sachs Group Forecasts Strong Price Appreciation for Knight-Swift Transportation (NYSE:KNX) Stock

Knight-Swift Transportation (NYSE:KNX) had its target price increased by The Goldman Sachs Group from $45.00 to $51.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s target price would suggest a potential downside of 7.96% from the company’s current price.

KNX has been the subject of several other research reports. Barclays boosted their target price on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Evercore ISI boosted their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Susquehanna raised their target price 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 lifted their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Raymond James increased their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.81.

Knight-Swift Transportation Stock Down 1.7 %

Shares of NYSE KNX opened at $55.41 on Thursday. The firm’s 50-day moving average is $55.03 and its two-hundred day moving average is $52.25. The company has a market capitalization of $8.97 billion, a PE ratio of 240.92, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. 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.

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

Insider Buying and Selling

In related news, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Knight-Swift Transportation by 168.3% during 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 during the period. Raymond James & Associates raised its stake in shares of Knight-Swift Transportation by 126.5% in the 2nd quarter. Raymond James & Associates now owns 74,138 shares of the transportation company’s stock valued at $3,701,000 after purchasing an additional 41,409 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Knight-Swift Transportation by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 25,376 shares of the transportation company’s stock worth $1,267,000 after purchasing an additional 325 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in Knight-Swift Transportation in the second quarter worth about $256,000. Finally, Lecap Asset Management Ltd. bought a new stake in Knight-Swift Transportation in the second quarter valued at about $2,707,000. 88.77% of the stock is 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.