Knight-Swift Transportation (NYSE:KNX) Lowered to Sell Rating by Citigroup

Citigroup lowered shares of Knight-Swift Transportation (NYSE:KNX) from a neutral rating to a sell rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. Citigroup currently has $56.00 target price on the transportation company’s stock.

KNX has been the topic of a number of other reports. Susquehanna upped their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen upped their price objective 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, October 24th. Stifel Nicolaus lifted their target price on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. 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. Finally, Barclays lifted their price objective on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.00.

Knight-Swift Transportation Stock Down 4.1 %

KNX stock opened at $56.48 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $52.70 and its 200-day simple moving average is $50.79. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The firm has a market capitalization of $9.14 billion, a PE ratio of 245.58, a P/E/G ratio of 2.15 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating 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 analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm earned $0.41 EPS. Knight-Swift Transportation’s quarterly revenue was down 7.1% on a year-over-year basis. Equities analysts expect that Knight-Swift Transportation will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.13%. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Insider Transactions at Knight-Swift Transportation

In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the sale, the director now directly owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC boosted its stake in shares of Knight-Swift Transportation by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 22,706 shares of the transportation company’s stock valued at $1,249,000 after purchasing an additional 326 shares during the period. SG Americas Securities LLC boosted its position in Knight-Swift Transportation by 32.7% in the 1st quarter. SG Americas Securities LLC now owns 18,762 shares of the transportation company’s stock valued at $1,032,000 after buying an additional 4,620 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Knight-Swift Transportation during the first quarter valued at about $281,000. Sei Investments Co. increased its position in shares of Knight-Swift Transportation by 2.1% during the first quarter. Sei Investments Co. now owns 293,637 shares of the transportation company’s stock worth $16,156,000 after acquiring an additional 6,045 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in shares of Knight-Swift Transportation by 7.6% in the first quarter. QRG Capital Management Inc. now owns 7,864 shares of the transportation company’s stock worth $433,000 after acquiring an additional 556 shares in the last quarter. Hedge funds and other 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.