Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $58.00 at Raymond James

by · The Cerbat Gem

Knight-Swift Transportation (NYSE:KNX – Free Report) had its price objective upped by Raymond James from $57.00 to $58.00 in a report published on Monday, Benzinga reports. They currently have a strong-buy rating on the transportation company’s stock.

A number of other analysts have also recently commented on the stock. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Bank of America boosted their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Evercore ISI decreased their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has assigned 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 a consensus target price of $55.88.

Read Our Latest Stock Report on Knight-Swift Transportation

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $51.82 on Monday. The firm has a fifty day moving average of $52.20 and a two-hundred day moving average of $50.43. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of 126.39, a PEG ratio of 1.44 and a beta of 0.92. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 EPS. As a group, equities research analysts predict that Knight-Swift Transportation will post 1.07 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.24%. Knight-Swift Transportation’s payout ratio is 156.10%.

Insider Buying and Selling

In other news, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction on 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock valued at $4,367,869 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds have recently made changes to their positions in KNX. Rise Advisors LLC acquired a new stake in shares of Knight-Swift Transportation during the first quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after purchasing an additional 253 shares during the period. Versant Capital Management Inc grew its stake in shares of Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in 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 purchasing an additional 200 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in Knight-Swift Transportation by 50.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after purchasing an additional 343 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Knight-Swift Transportation

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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.

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