Knight-Swift Transportation (NYSE:KNX) Downgraded by Wolfe Research to “Peer Perform”

Wolfe Research cut shares of Knight-Swift Transportation (NYSE:KNX) from an outperform rating to a peer perform rating in a report issued on Thursday, Marketbeat reports.

A number of other analysts also recently issued reports on KNX. TD Cowen dropped their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their price target for the company from $53.00 to $47.00 in a report on Friday, April 26th. JPMorgan Chase & Co. dropped their price target on shares of Knight-Swift Transportation from $55.00 to $51.00 and set a neutral rating on the stock in a report on Tuesday. Bank of America cut their target price on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a research report on Thursday, April 18th. Finally, Robert W. Baird cut their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $56.00.

Knight-Swift Transportation Stock Up 0.9 %

NYSE:KNX opened at $49.53 on Thursday. The firm has a market cap of $8.00 billion, a P/E ratio of 73.93, a P/E/G ratio of 1.27 and a beta of 0.94. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The firm has a 50-day simple moving average of $48.42 and a two-hundred day simple moving average of $52.65.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. Analysts predict that Knight-Swift Transportation will post 1.23 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.29%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Knight-Swift Transportation by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after purchasing an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. raised its stake in Knight-Swift Transportation by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares in the last quarter. Victory Capital Management Inc. raised its stake in Knight-Swift Transportation by 908.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after purchasing an additional 3,767,408 shares in the last quarter. Norges Bank bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth about $201,232,000. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Knight-Swift Transportation by 10.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,371,944 shares of the transportation company’s stock valued at $185,524,000 after buying an additional 311,788 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.