Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $48.00

Knight-Swift Transportation (NYSE:KNX) had its price target raised by Stifel Nicolaus from $47.00 to $48.00 in a research note released on Friday, Benzinga reports. They currently have a hold rating on the transportation company’s stock.

A number of other equities analysts also recently weighed in on KNX. Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. TD Cowen increased their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday. Raymond James boosted their price target 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. Bank of America upped their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Citigroup initiated coverage on Knight-Swift Transportation in a research note on Wednesday, October 9th. They issued a “neutral” rating and a $55.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average target price of $55.94.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $52.55 on Friday. The company has a market cap of $8.51 billion, a P/E ratio of 228.49, a P/E/G ratio of 1.90 and a beta of 0.92. The business has a fifty day simple moving average of $52.22 and a 200-day simple moving average of $50.34. 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 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 0.38.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping 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%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. Equities research analysts forecast that Knight-Swift Transportation will post 1.06 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.27%.

Insiders Place Their Bets

In other news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total transaction of $304,679.04. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock worth $4,367,869 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC raised its position in shares of Knight-Swift Transportation by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock valued at $1,230,000 after acquiring an additional 196 shares in the last quarter. United Services Automobile Association increased its stake in Knight-Swift Transportation by 1.6% during the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after purchasing an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in shares of Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares during the period. MQS Management LLC lifted its position in shares of Knight-Swift Transportation by 3.7% in the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after buying an additional 250 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Knight-Swift Transportation by 36.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after buying an additional 302 shares during the period. 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.