Knight-Swift Transportation (KNX) Price Target Lowered to $49.00 at Buckingham Research

Knight-Swift Transportation (NYSE:KNX) had its price target dropped by stock analysts at Buckingham Research from $54.00 to $49.00 in a research report issued to clients and investors on Friday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Buckingham Research’s price objective indicates a potential upside of 58.22% from the stock’s current price.

KNX has been the topic of a number of other research reports. KeyCorp decreased their price target on shares of Knight-Swift Transportation from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, July 26th. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, June 27th. Morgan Stanley decreased their price target on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, July 26th. ValuEngine lowered shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Finally, Stifel Nicolaus decreased their price target on shares of Knight-Swift Transportation from $48.00 to $46.00 and set a “buy” rating on the stock in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $48.94.

Shares of NYSE KNX opened at $30.97 on Friday. Knight-Swift Transportation has a 1 year low of $29.00 and a 1 year high of $51.94. The company has a market cap of $6.14 billion, a P/E ratio of 22.44, a PEG ratio of 1.01 and a beta of 1.59. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.11.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 25th. The transportation company reported $0.56 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.56. Knight-Swift Transportation had a net margin of 13.67% and a return on equity of 5.74%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business earned $0.25 earnings per share. Knight-Swift Transportation’s revenue was up 387.4% compared to the same quarter last year. Sell-side analysts anticipate that Knight-Swift Transportation will post 2.29 earnings per share for the current year.

In other Knight-Swift Transportation news, CAO Wayne Yu bought 1,750 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, August 1st. The shares were acquired at an average price of $32.01 per share, for a total transaction of $56,017.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 27.50% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Dai Ichi Life Insurance Company Ltd acquired a new position in shares of Knight-Swift Transportation during the 2nd quarter valued at $4,087,000. State of Tennessee Treasury Department lifted its holdings in shares of Knight-Swift Transportation by 7.8% during the 3rd quarter. State of Tennessee Treasury Department now owns 52,769 shares of the transportation company’s stock valued at $1,514,000 after acquiring an additional 3,815 shares in the last quarter. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Knight-Swift Transportation by 33.6% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 797,220 shares of the transportation company’s stock valued at $30,462,000 after acquiring an additional 200,675 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Knight-Swift Transportation by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 239,416 shares of the transportation company’s stock valued at $9,148,000 after acquiring an additional 27,855 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Knight-Swift Transportation by 7.3% during the 3rd quarter. Rhumbline Advisers now owns 111,871 shares of the transportation company’s stock valued at $3,210,000 after acquiring an additional 7,633 shares in the last quarter. Institutional investors and hedge funds own 79.59% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

Featured Story: Earnings Per Share

Stock Target Advisor

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

Receive News & Ratings for Knight-Swift Transportation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knight-Swift Transportation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply