Citigroup Upgrades Knight-Swift Transportation (NYSE:KNX) to “Neutral”

Knight-Swift Transportation (NYSE:KNX) was upgraded by analysts at Citigroup from a “sell” rating to a “neutral” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm presently has a $53.00 price objective on the transportation company’s stock. Citigroup’s price objective points to a potential upside of 12.60% from the stock’s previous close.

Several other analysts also recently commented on the stock. Bank of America upped their price objective on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Benchmark initiated coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They set a “buy” rating and a $63.00 target price for the company. Raymond James lifted their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and boosted their price objective for the company from $48.00 to $67.00 in a report on Friday, January 3rd. Finally, Barclays raised their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $59.41.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $47.07 on Monday. The stock’s fifty day moving average price is $53.79 and its 200 day moving average price is $53.84. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The company has a market cap of $7.62 billion, a price-to-earnings ratio of 64.48 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, equities research analysts forecast that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust raised its holdings in shares of Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after acquiring an additional 322 shares during the last quarter. UMB Bank n.a. increased its position in shares of Knight-Swift Transportation by 84.3% during the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after purchasing an additional 370 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 292 shares in the last quarter. Quarry LP lifted its holdings in Knight-Swift Transportation by 71.1% in the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after purchasing an additional 499 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Knight-Swift Transportation by 20.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after purchasing an additional 213 shares during the last quarter. 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.