Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

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

Several other research firms have also recently commented on KNX. Raymond James raised their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Monday, October 14th. Morgan Stanley dropped their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lifted their price target on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Susquehanna lifted their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Barclays raised their target price on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of “Hold” and an average price target of $56.81.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $55.41 on Thursday. The stock has a market capitalization of $8.97 billion, a P/E ratio of 240.92, a P/E/G ratio of 1.95 and a beta of 0.96. The firm’s 50-day moving average price is $55.03 and its two-hundred day moving average price is $52.25. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99. 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 (NYSE:KNX) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. As a group, sell-side analysts forecast that Knight-Swift Transportation will post 1.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value 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 position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Large investors have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators raised its holdings in shares of Knight-Swift Transportation by 87.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 348 shares during the period. Brown Brothers Harriman & Co. raised its stake 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 during the period. Blue Trust Inc. lifted its position in shares of Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock worth $61,000 after acquiring an additional 302 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock worth $62,000 after acquiring an additional 292 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other 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.