Knight-Swift Transportation (NYSE:KNX) Upgraded at Citigroup

Knight-Swift Transportation (NYSE:KNX) was upgraded by equities researchers at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $53.00 price target on the transportation company’s stock. Citigroup’s price objective would suggest a potential upside of 14.40% from the stock’s current price.

Several other research firms have also issued reports on KNX. StockNews.com raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Bank of America boosted their target price on Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. The Goldman Sachs Group lifted their price target on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. TD Cowen raised their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Benchmark started coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They set a “buy” rating and a $63.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus price target of $59.41.

Knight-Swift Transportation Trading Down 1.2 %

Shares of KNX opened at $46.33 on Monday. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $61.51. The business’s 50-day moving average price is $53.54 and its 200 day moving average price is $53.74. The stock has a market capitalization of $7.50 billion, a P/E ratio of 63.46 and a beta of 0.97. 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 issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share 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%. Analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of large investors have recently modified their holdings of KNX. Parkside Financial Bank & Trust increased its stake in shares of Knight-Swift Transportation by 88.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after buying an additional 322 shares during the period. UMB Bank n.a. raised its holdings in Knight-Swift Transportation by 84.3% during the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after purchasing an additional 370 shares during the last quarter. Venturi Wealth Management LLC lifted its position in Knight-Swift Transportation by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 292 shares during the period. Quarry LP boosted its stake in shares of Knight-Swift Transportation by 71.1% in the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 499 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in shares of Knight-Swift Transportation by 20.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 213 shares during the last quarter. 88.77% of the stock is currently 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.