Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $48.00

Knight-Swift Transportation (NYSE:KNX) had its target price raised by Bank of America from $43.00 to $48.00 in a report released on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the transportation company’s stock.

Several other research analysts have also recently weighed in on KNX. TD Cowen cut their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. TD Securities cut their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company cut their price target on shares of Knight-Swift Transportation from $55.00 to $46.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Evercore ISI cut their price target on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an “in-line” rating on the stock in a report on Thursday, April 24th. Finally, Susquehanna lowered their price objective on shares of Knight-Swift Transportation from $54.00 to $45.00 and set a “positive” rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average target price of $50.73.

Knight-Swift Transportation Stock Up 0.1%

Shares of NYSE KNX opened at $45.61 on Friday. The stock has a market capitalization of $7.39 billion, a P/E ratio of 62.47 and a beta of 1.18. The company has a 50-day moving average price of $42.27 and a 200-day moving average price of $50.28. Knight-Swift Transportation has a 1 year low of $36.69 and a 1 year high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same period in the previous year, the company earned $0.12 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Monday, June 9th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, June 9th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 76.60%.

Insider Buying and Selling

In other news, Director Douglas L. Col bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently bought and sold shares of KNX. HB Wealth Management LLC increased its holdings in Knight-Swift Transportation by 19.2% during the 4th quarter. HB Wealth Management LLC now owns 5,407 shares of the transportation company’s stock worth $287,000 after acquiring an additional 871 shares during the period. UMB Bank n.a. grew its stake in Knight-Swift Transportation by 84.3% in the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after buying an additional 370 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in 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 worth $67,000 after buying an additional 213 shares in the last quarter. Dakota Wealth Management purchased a new position in Knight-Swift Transportation in the 4th quarter worth approximately $209,000. Finally, Linden Thomas Advisory Services LLC grew its stake in Knight-Swift Transportation by 2.3% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 21,505 shares of the transportation company’s stock worth $1,141,000 after buying an additional 482 shares in 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.