Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, Susquehanna Analyst Says
by Jessica Moore · The Cerbat GemKnight-Swift Transportation (NYSE:KNX – Get Free Report) had its price target boosted by Susquehanna from $60.00 to $72.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price objective points to a potential upside of 13.14% from the company’s previous close.
A number of other analysts have also issued reports on the company. Weiss Ratings upgraded Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research report on Friday, March 27th. Benchmark boosted their target price on Knight-Swift Transportation from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. boosted their target price on Knight-Swift Transportation from $49.00 to $61.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Finally, Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.78.
Check Out Our Latest Research Report on KNX
Knight-Swift Transportation Stock Performance
Shares of NYSE:KNX traded down $1.22 during midday trading on Wednesday, reaching $63.64. 577,924 shares of the company traded hands, compared to its average volume of 3,203,125. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation has a 12 month low of $37.76 and a 12 month high of $66.61. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 155.22, a price-to-earnings-growth ratio of 1.00 and a beta of 1.11. The firm’s fifty day moving average price is $58.81 and its two-hundred day moving average price is $53.30.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings data on Wednesday, January 21st. The transportation company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 2.88%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts expect that Knight-Swift Transportation will post 1.93 earnings per share for the current year.
Insider Transactions at Knight-Swift Transportation
In other news, CFO Joshua Smith sold 5,770 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $60.91, for a total value of $351,450.70. Following the completion of the transaction, the chief financial officer directly owned 9,214 shares in the company, valued at approximately $561,224.74. This represents a 38.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael K. Liu sold 1,243 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $60.87, for a total value of $75,661.41. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 42,930 shares of company stock valued at $2,581,186 over the last quarter. 2.90% of the stock is owned by company insiders.
Hedge Funds Weigh In On Knight-Swift Transportation
Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in Knight-Swift Transportation by 23.6% during the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after acquiring an additional 2,468,293 shares during the period. Invesco Ltd. boosted its holdings in Knight-Swift Transportation by 513.6% during the 4th quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock valued at $126,354,000 after acquiring an additional 2,022,996 shares during the period. Norges Bank purchased a new stake in Knight-Swift Transportation during the 4th quarter valued at about $92,070,000. Balyasny Asset Management L.P. boosted its holdings in Knight-Swift Transportation by 269.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock valued at $88,164,000 after acquiring an additional 1,627,791 shares during the period. Finally, Junto Capital Management LP boosted its holdings in Knight-Swift Transportation by 252.4% during the 3rd quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock valued at $89,377,000 after acquiring an additional 1,620,224 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.
The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.