Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $65.00 at TD Cowen

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

Several other research firms have also issued reports on KNX. Morgan Stanley lowered their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI increased their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Barclays increased their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Finally, Citigroup lowered shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target for the company. in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Moderate Buy” and a consensus target price of $59.38.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $57.54 on Thursday. The business’s 50 day moving average price is $55.24 and its 200-day moving average price is $53.35. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $61.51. The company has a market cap of $9.32 billion, a P/E 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 quick ratio of 1.01 and a current ratio of 1.01.

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

Knight-Swift Transportation Dividend Announcement

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

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the 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 completion of the sale, the director now owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was 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. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Several large investors have recently modified their holdings of KNX. Renaissance Technologies LLC increased its holdings in Knight-Swift Transportation by 66.1% during the 2nd quarter. Renaissance Technologies LLC now owns 86,727 shares of the transportation company’s stock worth $4,329,000 after purchasing an additional 34,500 shares during the last quarter. Sei Investments Co. increased its stake in shares of Knight-Swift Transportation by 9.5% in the second quarter. Sei Investments Co. now owns 321,463 shares of the transportation company’s stock worth $16,047,000 after buying an additional 27,826 shares during the last quarter. Marshall Wace LLP raised its holdings in Knight-Swift Transportation by 25.6% in the second quarter. Marshall Wace LLP now owns 175,813 shares of the transportation company’s stock valued at $8,777,000 after acquiring an additional 35,809 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Knight-Swift Transportation by 61.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,819 shares of the transportation company’s stock valued at $1,538,000 after acquiring an additional 11,710 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in Knight-Swift Transportation by 175.5% during the 2nd quarter. APG Asset Management N.V. now owns 20,251 shares of the transportation company’s stock worth $943,000 after acquiring an additional 12,900 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.