Bank of America Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $63.00

Knight-Swift Transportation (NYSE:KNX) had its target price increased by stock analysts at Bank of America from $61.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 14.83% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays increased their price target on Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective for the company. in a research report on Tuesday, November 12th. Stifel Nicolaus increased their target price on Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Raymond James lifted their price target on Knight-Swift Transportation from $60.00 to $62.00 and gave the company a “strong-buy” rating in a report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average price target of $58.56.

Knight-Swift Transportation Trading Down 2.6 %

KNX stock opened at $54.87 on Thursday. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $60.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $55.39 and its 200-day moving average is $53.22. The firm has a market cap of $8.88 billion, a P/E ratio of 238.55, a P/E/G ratio of 0.95 and a beta of 0.98.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. Equities analysts anticipate that Knight-Swift Transportation will post 1.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the sale, the director now owns 30,729 shares in the company, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Knight-Swift Transportation by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock valued at $219,870,000 after acquiring an additional 467,647 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Knight-Swift Transportation by 1.7% in the third quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock worth $147,529,000 after purchasing an additional 46,436 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Knight-Swift Transportation by 34.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock worth $76,224,000 after purchasing an additional 359,566 shares during the last quarter. Franklin Resources Inc. acquired a new position in Knight-Swift Transportation during the third quarter worth $70,185,000. Finally, Thrivent Financial for Lutherans raised its position in Knight-Swift Transportation by 0.5% during the third quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock worth $72,171,000 after acquiring an additional 6,803 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.