Knight-Swift Transportation (NYSE:KNX) had its price target hoisted by analysts at Knight Equity to $55.00 in a report released on Thursday, The Fly reports. The firm presently has a “buy” rating on the transportation company’s stock. Knight Equity’s target price suggests a potential upside of 18.20% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Knight-Swift Transportation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 14th. Morgan Stanley started coverage on Knight-Swift Transportation in a research note on Wednesday, December 13th. They set an “overweight” rating and a $50.00 target price for the company. Credit Suisse Group cut their target price on Knight-Swift Transportation from $41.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, November 7th. KeyCorp upped their target price on Knight-Swift Transportation from $45.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, JPMorgan Chase & Co. started coverage on Knight-Swift Transportation in a research note on Thursday, October 12th. They set a “neutral” rating and a $39.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. Knight-Swift Transportation currently has an average rating of “Buy” and a consensus price target of $43.11.
Shares of Knight-Swift Transportation (KNX) traded up $0.70 during mid-day trading on Thursday, hitting $46.53. The company had a trading volume of 1,709,017 shares, compared to its average volume of 1,293,771. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $8,279.22, a PE ratio of 51.64 and a beta of 2.03. Knight-Swift Transportation has a fifty-two week low of $30.00 and a fifty-two week high of $46.64.
Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.05). Knight-Swift Transportation had a net margin of 2.44% and a return on equity of 7.48%. The company had revenue of $521.61 million during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm posted $0.34 earnings per share. equities research analysts predict that Knight-Swift Transportation will post 1.15 earnings per share for the current fiscal year.
In other news, Director Michael Garnreiter sold 2,500 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $38.50, for a total value of $96,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Todd F. Carlson sold 9,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.24, for a total value of $353,160.00. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock valued at $492,410 over the last quarter. 9.90% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in KNX. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Knight-Swift Transportation by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 288 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in shares of Knight-Swift Transportation by 58.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,063 shares of the transportation company’s stock valued at $187,000 after acquiring an additional 1,863 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Knight-Swift Transportation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock valued at $200,000 after acquiring an additional 807 shares during the last quarter. Oakbrook Investments LLC bought a new position in shares of Knight-Swift Transportation in the 4th quarter valued at $210,000. Finally, Toronto Dominion Bank bought a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at $234,000. Institutional investors own 78.41% of the company’s stock.
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Knight-Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.