The Goldman Sachs Group Issues Pessimistic Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price dropped by stock analysts at The Goldman Sachs Group from $55.00 to $45.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s target price suggests a potential upside of 12.95% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and cut their price target for the company from $53.00 to $48.00 in a research note on Tuesday. Bank of America downgraded shares of Knight-Swift Transportation from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $46.00 in a research report on Tuesday, April 1st. StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Benchmark started coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 target price on the stock. Finally, TD Cowen lifted their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.94.

Knight-Swift Transportation Stock Down 1.9 %

Shares of NYSE KNX opened at $39.84 on Thursday. The stock has a market cap of $6.45 billion, a P/E ratio of 54.57 and a beta of 1.16. The business’s fifty day simple moving average is $47.45 and its 200-day simple moving average is $52.20. Knight-Swift Transportation has a 12-month low of $36.69 and a 12-month high of $61.51. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, equities analysts predict that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Douglas L. Col bought 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, with a total value of $226,850.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $226,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is owned by insiders.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in the business. Victory Capital Management Inc. raised its stake in Knight-Swift Transportation by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock worth $423,265,000 after purchasing an additional 506,491 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Knight-Swift Transportation by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company’s stock valued at $370,819,000 after acquiring an additional 505,543 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Knight-Swift Transportation by 3.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock valued at $221,541,000 after acquiring an additional 125,827 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Knight-Swift Transportation by 1.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,556,405 shares of the transportation company’s stock worth $188,632,000 after acquiring an additional 63,241 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Knight-Swift Transportation by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock worth $147,529,000 after purchasing an additional 46,436 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

About Knight-Swift Transportation

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.