Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $49.00

Knight-Swift Transportation (NYSE:KNX) had its price objective dropped by analysts at Evercore ISI from $55.00 to $49.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective suggests a potential downside of 1.71% from the stock’s previous close.

Several other brokerages have also issued reports on KNX. Wells Fargo & Company assumed coverage on Knight-Swift Transportation in a research note on Friday, June 7th. They set an “overweight” rating and a $56.00 price target for the company. UBS Group cut their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. TD Cowen lifted their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $56.71.

Knight-Swift Transportation Stock Performance

Shares of KNX opened at $49.85 on Thursday. Knight-Swift Transportation has a 12-month low of $45.55 and a 12-month high of $60.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market cap of $8.07 billion, a PE ratio of 74.40, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92. The stock has a 50-day moving average price of $52.40 and a 200-day moving average price of $50.55.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, equities analysts forecast that Knight-Swift Transportation will post 1.09 earnings per share for the current fiscal year.

Insider Activity at Knight-Swift Transportation

In other news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the sale, the chairman now owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Kevin P. Knight sold 30,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the transaction, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the sale, the director now directly owns 17,648 shares in the company, valued at approximately $892,459.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock worth $4,367,869 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Institutional investors have recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new stake in shares of Knight-Swift Transportation in the 1st quarter worth about $25,000. GAMMA Investing LLC increased its stake in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. boosted its position in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after buying an additional 343 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, 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.