Knight-Swift Transportation (NYSE:KNX) Stock Rating Lowered by Citigroup

Citigroup lowered shares of Knight-Swift Transportation (NYSE:KNX) from a neutral rating to a sell rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports. They currently have $56.00 target price on the transportation company’s stock.

A number of other research firms have also recently issued reports on KNX. TD Cowen increased their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays lifted their target price on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. StockNews.com raised Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. The Goldman Sachs Group lowered their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Raymond James boosted their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.38.

Knight-Swift Transportation Trading Down 0.5 %

NYSE KNX opened at $55.63 on Tuesday. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $9.01 billion, a P/E ratio of 242.40, a P/E/G ratio of 2.09 and a beta of 0.93. The stock’s 50-day moving average is $52.97 and its 200-day moving average is $50.94.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Sell-side analysts anticipate that Knight-Swift Transportation will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s payout ratio is presently 278.27%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Institutional Trading of Knight-Swift Transportation

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc increased its holdings in shares of Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the period. Deseret Mutual Benefit Administrators increased its stake in Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 348 shares during the period. Brown Brothers Harriman & Co. raised its holdings in Knight-Swift Transportation by 28.6% in the 2nd 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 in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Knight-Swift Transportation by 50.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the period. Finally, Blue Trust Inc. lifted its position in shares of Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 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.