Knight-Swift Transportation (NYSE:KNX) Given New $86.00 Price Target at Wells Fargo & Company

Knight-Swift Transportation (NYSE:KNX) had its price target raised by Wells Fargo & Company from $65.00 to $86.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts have also recently commented on the company. Citigroup raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Friday, March 13th. Weiss Ratings raised Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. Stifel Nicolaus upped their target price on Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price for the company in a report on Tuesday. Finally, Benchmark increased their price target on Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.19.

Knight-Swift Transportation Trading Up 0.0%

NYSE:KNX opened at $78.59 on Friday. Knight-Swift Transportation has a 1-year low of $38.63 and a 1-year high of $79.96. The business’s 50-day moving average price is $65.63 and its two-hundred day moving average price is $58.45. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of 374.24, a PEG ratio of 1.00 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last announced 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). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.28 EPS. On average, equities analysts expect that Knight-Swift Transportation will post 2.14 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.80 annualized dividend and a yield of 1.0%. Knight-Swift Transportation’s dividend payout ratio is presently 380.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Knight-Swift Transportation by 23.6% in the fourth quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock worth $675,380,000 after purchasing an additional 2,468,293 shares during the last quarter. Invesco Ltd. raised its stake in shares of Knight-Swift Transportation by 513.6% in the fourth quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock worth $126,354,000 after purchasing an additional 2,022,996 shares during the last quarter. Norges Bank purchased a new stake in shares of Knight-Swift Transportation in the fourth quarter worth approximately $92,070,000. Balyasny Asset Management L.P. raised its stake in shares of Knight-Swift Transportation by 269.7% in the third quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock worth $88,164,000 after purchasing an additional 1,627,791 shares during the last quarter. Finally, Junto Capital Management LP raised its stake in shares of Knight-Swift Transportation by 252.4% in the third quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock worth $89,377,000 after purchasing an additional 1,620,224 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

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.