Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $52.00

Knight-Swift Transportation (NYSE:KNX) had its target price increased by investment analysts at Evercore ISI from $49.00 to $52.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price objective points to a potential upside of 1.13% from the stock’s previous close.

A number of other brokerages have also weighed in on KNX. JPMorgan Chase & Co. raised their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. UBS Group cut their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Wolfe Research downgraded Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Barclays boosted their price objective on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation has an average rating of “Hold” and an average price target of $54.73.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX traded down $1.32 during midday trading on Thursday, reaching $51.42. 1,180,651 shares of the company’s stock traded hands, compared to its average volume of 2,057,765. The company has a fifty day simple moving average of $52.27 and a two-hundred day simple moving average of $50.37. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $60.99. The company has a market cap of $8.32 billion, a P/E ratio of 123.81, a PEG ratio of 1.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.49 EPS. Equities analysts predict that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the transaction, the director now directly owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the transaction, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the sale, the chairman now owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 85,196 shares of company stock worth $4,367,869 over the last 90 days. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its stake in Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Knight-Swift Transportation by 28.6% during the 2nd 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 raised its holdings in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after buying an additional 343 shares during the period. Blue Trust Inc. increased its position in shares of Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after acquiring an additional 579 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock worth $61,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.