Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $68.00

Knight-Swift Transportation (NYSE:KNX) had its price objective increased by Barclays from $62.00 to $68.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Other research analysts also recently issued reports about the stock. Bank of America increased their price target on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price on the stock. in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Raymond James lifted their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group reduced their target price on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $56.38.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $55.63 on Wednesday. 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 moving average of $53.08 and a 200 day moving average of $51.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 241.88, a PEG ratio of 2.09 and a beta of 0.93.

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

Knight-Swift Transportation Announces Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in Knight-Swift Transportation by 3,461.9% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after acquiring an additional 727 shares in the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Knight-Swift Transportation by 87.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings 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 purchasing an additional 343 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after purchasing an additional 579 shares in the last quarter. 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.