Knight-Swift Transportation (KNX) Price Target Raised to $48.00 at Wells Fargo & Co

Knight-Swift Transportation (NYSE:KNX) had its price objective lifted by investment analysts at Wells Fargo & Co from $36.00 to $48.00 in a research note issued to investors on Thursday, February 8th. The firm currently has a “market perform” rating on the transportation company’s stock. Wells Fargo & Co’s price objective would suggest a potential downside of 1.05% from the company’s previous close.

Several other equities research analysts have also commented on KNX. 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 price target on the stock. Zacks Investment Research lowered Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. Credit Suisse Group decreased their price target on Knight-Swift Transportation from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 7th. UBS Group decreased their price target on Knight-Swift Transportation from $53.00 to $51.00 and set a “buy” rating on the stock in a research note on Tuesday, November 7th. Finally, KeyCorp raised Knight-Swift Transportation from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, November 14th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $49.60.

Shares of Knight-Swift Transportation (NYSE:KNX) traded down $0.16 during trading hours on Thursday, hitting $48.51. The stock had a trading volume of 1,230,447 shares, compared to its average volume of 2,184,554. The stock has a market cap of $8,663.56, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 1.44 and a beta of 1.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.32. Knight-Swift Transportation has a fifty-two week low of $26.68 and a fifty-two week high of $51.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.13. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.36 billion. Knight-Swift Transportation had a return on equity of 5.92% and a net margin of 12.58%. The company’s quarterly revenue was up 370.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. sell-side analysts expect that Knight-Swift Transportation will post 2.26 EPS for the current year.

In other Knight-Swift Transportation news, General Counsel Todd F. Carlson sold 9,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $39.24, for a total transaction of $353,160.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $43.00, for a total value of $43,000.00. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Knight-Swift Transportation by 79.5% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,007 shares of the transportation company’s stock worth $131,000 after purchasing an additional 1,332 shares during the period. Cigna Investments Inc. New purchased a new position in shares of Knight-Swift Transportation during the 4th quarter worth $206,000. Oakbrook Investments LLC purchased a new position in shares of Knight-Swift Transportation during the 4th quarter worth $210,000. Toronto Dominion Bank purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter worth $234,000. Finally, Atria Investments LLC purchased a new position in shares of Knight-Swift Transportation during the 4th quarter worth $254,000. 78.21% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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