Raymond James Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $58.00

Knight-Swift Transportation (NYSE:KNX) had its price target boosted by Raymond James from $57.00 to $58.00 in a report released on Monday, Benzinga reports. The brokerage currently has a strong-buy rating on the transportation company’s stock.

A number of other equities analysts have also recently issued reports on KNX. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a neutral rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a neutral rating in a report on Thursday, July 25th. UBS Group cut their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Barclays lifted their price target on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an overweight rating in a report on Tuesday, August 20th. Finally, Evercore ISI cut their price target on Knight-Swift Transportation from $55.00 to $49.00 and set an in-line rating on the stock in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Knight-Swift Transportation presently has an average rating of Moderate Buy and a consensus target price of $55.88.

Knight-Swift Transportation Stock Up 0.0 %

NYSE:KNX opened at $50.94 on Monday. The company has a market capitalization of $8.24 billion, a price-to-earnings ratio of 124.23, a price-to-earnings-growth ratio of 1.41 and a beta of 0.92. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The stock has a 50-day simple moving average of $52.21 and a 200 day simple moving average of $50.42. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.49 earnings per share. Sell-side analysts predict that Knight-Swift Transportation will post 1.08 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.26%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 156.10%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,196 shares of company stock worth $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its position in Knight-Swift Transportation by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock worth $1,230,000 after acquiring an additional 196 shares during the last quarter. United Services Automobile Association increased its stake in Knight-Swift Transportation by 1.6% in the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after acquiring an additional 199 shares during the period. Brown Brothers Harriman & Co. increased its stake in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 200 shares during the period. MQS Management LLC increased its stake in Knight-Swift Transportation by 3.7% in the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock valued at $348,000 after acquiring an additional 250 shares during the period. Finally, GAMMA Investing LLC increased its stake in Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 253 shares during the period. Institutional investors and hedge funds 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.