Knight Equity Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $48.00


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Knight-Swift Transportation (NYSE:KNX) had its price target raised by investment analysts at Knight Equity from $46.00 to $48.00 in a research note issued on Thursday, The Fly reports. The firm presently has a “neutral” rating on the transportation company’s stock. Knight Equity’s price objective indicates a potential upside of 10.42% from the stock’s current price.

Other analysts have also recently issued reports about the company. Stifel Nicolaus raised shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $49.00 in a research report on Thursday, October 15th. Cowen boosted their target price on Knight-Swift Transportation from $45.00 to $47.00 and gave the company a “market perform” rating in a research report on Thursday, October 22nd. Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 7th. Evercore ISI assumed coverage on Knight-Swift Transportation in a report on Friday, December 4th. They set an “in-line” rating and a $42.00 price objective for the company. Finally, Zacks Investment Research cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a research report on Friday, January 8th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Knight-Swift Transportation has a consensus rating of “Hold” and a consensus target price of $48.50.

Shares of NYSE:KNX opened at $43.47 on Thursday. Knight-Swift Transportation has a one year low of $27.54 and a one year high of $47.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market cap of $7.38 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.01 and a beta of 1.22. The firm has a 50 day simple moving average of $41.88 and a 200 day simple moving average of $42.36.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.16. Knight-Swift Transportation had a net margin of 7.30% and a return on equity of 6.97%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the prior year, the business earned $0.48 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts expect that Knight-Swift Transportation will post 2.71 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Campbell Newman Asset Management Inc. lifted its position in shares of Knight-Swift Transportation by 1.9% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 19,971 shares of the transportation company’s stock valued at $813,000 after buying an additional 367 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Knight-Swift Transportation by 4.4% during the third quarter. ProShare Advisors LLC now owns 8,934 shares of the transportation company’s stock valued at $364,000 after purchasing an additional 379 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Knight-Swift Transportation by 21.7% in the third quarter. Fifth Third Bancorp now owns 2,904 shares of the transportation company’s stock worth $118,000 after purchasing an additional 518 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Knight-Swift Transportation by 0.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 202,312 shares of the transportation company’s stock worth $8,305,000 after purchasing an additional 522 shares in the last quarter. Finally, Keybank National Association OH raised its position in shares of Knight-Swift Transportation by 2.8% during the 3rd quarter. Keybank National Association OH now owns 20,157 shares of the transportation company’s stock valued at $820,000 after purchasing an additional 542 shares during the period. 78.27% of the stock is currently owned by institutional investors and hedge funds.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States and Mexico. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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