Benchmark Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price lifted by Benchmark from $75.00 to $90.00 in a research report sent to investors on Thursday,Benzinga reports. Benchmark currently has a buy rating on the transportation company’s stock.

A number of other research analysts have also commented on the company. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price target on the stock in a report on Tuesday, June 2nd. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Thursday. Wells Fargo & Company raised their target price on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Zacks Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Finally, TD Cowen boosted their price target on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $78.06.

Knight-Swift Transportation Trading Up 3.0%

Shares of NYSE:KNX opened at $77.24 on Thursday. The company has a market cap of $12.55 billion, a PE ratio of 367.82, a P/E/G ratio of 0.94 and a beta of 1.18. The company’s 50-day moving average price is $73.11 and its 200 day moving average price is $63.35. Knight-Swift Transportation has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. Sell-side analysts anticipate that Knight-Swift Transportation will post 2.18 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio is currently 380.95%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KNX. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Knight-Swift Transportation by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,183 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 222 shares in the last quarter. Fifth Third Bancorp lifted its stake in Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after acquiring an additional 267 shares in the last quarter. Blue Trust Inc. lifted its stake in Knight-Swift Transportation by 123.9% in the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after acquiring an additional 301 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Knight-Swift Transportation by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock worth $2,091,000 after acquiring an additional 306 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Knight-Swift Transportation by 7.9% during the 4th quarter. Parallel Advisors LLC now owns 4,240 shares of the transportation company’s stock worth $222,000 after acquiring an additional 309 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.