Robert W. Baird Initiates Coverage on Knight-Swift Transportation (NYSE:KNX)

Investment analysts at Robert W. Baird assumed coverage on shares of Knight-Swift Transportation (NYSE:KNX) in a report issued on Tuesday, Marketbeat reports. The firm set an “outperform” rating and a $55.00 price target on the transportation company’s stock. Robert W. Baird’s price target would indicate a potential upside of 16.57% from the company’s previous close.

Several other brokerages have also issued reports on KNX. Barclays dropped their target price on Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. TD Securities cut their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus decreased their target price on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a research report on Monday, April 14th. 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. Finally, Benchmark reaffirmed a “buy” rating and issued a $63.00 price target on shares of Knight-Swift Transportation in a research note on Monday, April 14th. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.25.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $47.18 on Tuesday. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 0.68 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50 day simple moving average of $43.43 and a 200-day simple moving average of $47.47. Knight-Swift Transportation has a 1 year low of $36.69 and a 1 year high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the company earned $0.12 earnings per share. Knight-Swift Transportation’s revenue was up 1.3% on a year-over-year basis. Equities analysts forecast that Knight-Swift Transportation will post 2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in KNX. Charles Schwab Investment Management Inc. grew its position in shares of Knight-Swift Transportation by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,175,335 shares of the transportation company’s stock worth $62,340,000 after buying an additional 28,387 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Knight-Swift Transportation by 533.9% during the first quarter. Assenagon Asset Management S.A. now owns 33,614 shares of the transportation company’s stock worth $1,462,000 after purchasing an additional 28,311 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Knight-Swift Transportation by 668.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,743 shares of the transportation company’s stock valued at $1,511,000 after purchasing an additional 30,219 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Knight-Swift Transportation by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 18,968 shares of the transportation company’s stock valued at $824,000 after purchasing an additional 510 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Knight-Swift Transportation in the 4th quarter worth $749,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.