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

Knight-Swift Transportation (NYSE:KNX) had its price target increased by Bank of America from $61.00 to $63.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. Raymond James raised their target price on Knight-Swift Transportation from $60.00 to $62.00 and gave the company a “strong-buy” rating in a research report on Friday, January 10th. Stifel Nicolaus raised their price target on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and upped their price target for the company from $48.00 to $67.00 in a research note on Friday, January 3rd. Barclays upped their price objective 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. Finally, Evercore ISI raised their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $58.56.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $56.36 on Thursday. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99. The company has a market capitalization of $9.12 billion, a PE ratio of 245.07, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. The stock’s fifty day moving average is $55.51 and its two-hundred day moving average is $53.17. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX) last released 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. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.41 earnings per share. As a group, analysts expect that Knight-Swift Transportation will post 1.04 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Friday, December 6th. Knight-Swift Transportation’s payout ratio is currently 278.27%.

Insider Buying and Selling

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the firm’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 shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KNX. Allspring Global Investments Holdings LLC raised its position in shares of Knight-Swift Transportation by 13.0% during 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 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock worth $147,529,000 after buying an additional 46,436 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Knight-Swift Transportation by 34.1% in the 3rd 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 buying an additional 359,566 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at about $70,185,000. Finally, Thrivent Financial for Lutherans grew its position in shares of Knight-Swift Transportation by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock valued at $72,171,000 after buying an additional 6,803 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.