Knight-Swift Transportation (NYSE:KNX) Upgraded at StockNews.com

Knight-Swift Transportation (NYSE:KNX) was upgraded by StockNews.com to a “sell” rating in a research report issued on Thursday.

Several other analysts also recently commented on KNX. Susquehanna reduced their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. Evercore ISI decreased their target price on Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 25th. Raymond James lowered their target price on Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a research note on Thursday. Wells Fargo & Company assumed coverage on Knight-Swift Transportation in a research note on Friday, June 7th. They issued an “overweight” rating and a $56.00 price target for the company. Finally, Barclays lowered their price objective on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $56.79.

Knight-Swift Transportation Stock Performance

NYSE:KNX traded up $3.05 on Thursday, hitting $52.03. The company’s stock had a trading volume of 6,392,298 shares, compared to its average volume of 2,125,525. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The firm has a market capitalization of $8.41 billion, a P/E ratio of 77.66, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. The stock has a fifty day moving average of $48.70 and a two-hundred day moving average of $52.16. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up 18.9% on a year-over-year basis. Research analysts predict that Knight-Swift Transportation will post 1.21 earnings per share for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently modified their holdings of KNX. Victory Capital Management Inc. boosted its holdings in shares of Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after acquiring an additional 3,767,408 shares in the last quarter. Norges Bank bought a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $201,232,000. Wellington Management Group LLP increased its stake in shares of Knight-Swift Transportation by 15.7% in the fourth 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 during the period. Balyasny Asset Management L.P. increased its stake in shares of Knight-Swift Transportation by 225.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock valued at $49,881,000 after buying an additional 599,193 shares during the period. Finally, Fiera Capital Corp raised its holdings in Knight-Swift Transportation by 4,385.6% in the 4th quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock valued at $22,563,000 after buying an additional 382,646 shares during 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.