Knight-Swift Transportation (NYSE:KNX) Coverage Initiated by Analysts at Citizens Jmp

Citizens Jmp initiated coverage on shares of Knight-Swift Transportation (NYSE:KNX) in a research note released on Wednesday morning, MarketBeat reports. The brokerage issued a market outperform rating and a $90.00 target price on the transportation company’s stock.

A number of other equities analysts have also recently issued reports on KNX. JPMorgan Chase & Co. increased their target price on Knight-Swift Transportation from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Stifel Nicolaus boosted their price target on Knight-Swift Transportation from $70.00 to $85.00 and gave the company a “buy” rating in a report on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Knight-Swift Transportation in a research report on Monday. Citigroup upgraded 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, July 9th. Finally, Stephens raised Knight-Swift Transportation to a “strong-buy” rating in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Knight-Swift Transportation has an average rating of “Buy” and an average target price of $80.44.

Knight-Swift Transportation Stock Down 2.3%

Knight-Swift Transportation stock opened at $73.50 on Wednesday. The stock has a market capitalization of $11.94 billion, a PE ratio of 349.99, a price-to-earnings-growth ratio of 0.84 and a beta of 1.18. Knight-Swift Transportation has a twelve month low of $38.63 and a twelve month 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. The company has a 50 day moving average of $73.99 and a 200-day moving average of $63.94.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. On average, equities research analysts anticipate that Knight-Swift Transportation will post 2.21 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 annualized dividend and a yield of 1.1%. Knight-Swift Transportation’s payout ratio is 380.95%.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its holdings in Knight-Swift Transportation by 123.9% during the first 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. Clearstead Advisors LLC grew its stake in Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Knight-Swift Transportation by 1,478.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 828 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of Knight-Swift Transportation during the 4th quarter worth approximately $39,000. Finally, Fifth Third Bancorp increased its position in shares of Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

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.