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

Knight-Swift Transportation (NYSE:KNX) had its price target upped by TD Cowen from $62.00 to $65.00 in a research note released on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on KNX. The Goldman Sachs Group boosted their target price on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Evercore ISI increased their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a report 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 report on Tuesday, November 12th. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and upped their price objective for the company from $48.00 to $67.00 in a research report on Friday, January 3rd. Finally, Bank of America boosted their target price on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Knight-Swift Transportation Stock Up 4.6 %

KNX stock opened at $57.54 on Thursday. The firm has a market cap of $9.32 billion, a PE ratio of 78.82, a P/E/G ratio of 1.02 and a beta of 0.98. 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 firm has a 50 day simple moving average of $55.24 and a 200 day simple moving average of $53.35. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Equities research analysts forecast that Knight-Swift Transportation will post 2.11 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.11%. Knight-Swift Transportation’s dividend payout ratio is presently 87.67%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the sale, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Knight-Swift Transportation by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock worth $219,870,000 after purchasing an additional 467,647 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Knight-Swift Transportation by 1.7% during the third quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock valued at $147,529,000 after purchasing an additional 46,436 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Knight-Swift Transportation by 34.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock valued at $76,224,000 after acquiring an additional 359,566 shares in the last quarter. Franklin Resources Inc. purchased a new position in Knight-Swift Transportation in the third quarter worth about $70,185,000. Finally, Thrivent Financial for Lutherans raised its holdings in Knight-Swift Transportation by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock worth $72,171,000 after acquiring an additional 6,803 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.