Knight-Swift Transportation (NYSE:KNX) Price Target Increased to $57.00 by Analysts at JPMorgan Chase & Co.

Knight-Swift Transportation (NYSE:KNX) had its price target increased by JPMorgan Chase & Co. from $51.00 to $57.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other brokerages have also weighed in on KNX. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their price objective for the company from $63.00 to $53.00 in a report on Thursday, April 18th. TD Cowen increased their price target on Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a buy rating in a report on Thursday. Susquehanna decreased their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday, April 18th. UBS Group cut their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a buy rating on the stock in a report on Tuesday, July 9th. Finally, Raymond James initiated coverage on shares of Knight-Swift Transportation in a research note on Wednesday, May 15th. They set a strong-buy rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Trading Down 1.5 %

NYSE KNX opened at $51.25 on Thursday. 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 0.24, a current ratio of 0.88 and a quick ratio of 0.93. The business has a 50 day simple moving average of $48.74 and a 200 day simple moving average of $52.05. The stock has a market capitalization of $8.28 billion, a P/E ratio of 76.49, a P/E/G ratio of 1.39 and a beta of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period last year, the business earned $0.49 EPS. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Research analysts expect that Knight-Swift Transportation will post 1.16 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings 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 during the last quarter. Norges Bank bought a new position in Knight-Swift Transportation in the 4th quarter worth approximately $201,232,000. Wellington Management Group LLP grew its stake in Knight-Swift Transportation by 15.7% in the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Balyasny Asset Management L.P. raised its holdings in Knight-Swift Transportation by 225.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock valued at $49,881,000 after acquiring an additional 599,193 shares during the period. Finally, Fiera Capital Corp lifted its position in shares of Knight-Swift Transportation by 4,385.6% during the fourth quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock worth $22,563,000 after acquiring an additional 382,646 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.