Raymond James Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its price target boosted by stock analysts at Raymond James from $60.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price target points to a potential upside of 18.71% from the company’s previous close.

A number of other brokerages have also recently commented on KNX. TD Cowen lifted their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley decreased their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus increased 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. Barclays lifted their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and raised their target price for the stock from $48.00 to $67.00 in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $58.44.

Knight-Swift Transportation Stock Down 3.0 %

Knight-Swift Transportation stock traded down $1.60 during midday trading on Friday, reaching $52.23. The company’s stock had a trading volume of 396,210 shares, compared to its average volume of 1,525,129. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99. The stock has a market capitalization of $8.46 billion, a P/E ratio of 227.10, a PEG ratio of 1.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day simple moving average is $55.52 and its 200-day simple moving average is $52.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. The company 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%. Knight-Swift Transportation’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, sell-side analysts expect that Knight-Swift Transportation will post 1.05 EPS for the current year.

Insider Transactions at Knight-Swift Transportation

In other news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

A number of institutional investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators lifted its stake in Knight-Swift Transportation by 87.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after purchasing an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after buying an additional 200 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Knight-Swift Transportation by 36.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after buying an additional 302 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Knight-Swift Transportation by 34.2% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock worth $62,000 after acquiring an additional 292 shares in the last quarter. Finally, Quarry LP lifted its position in Knight-Swift Transportation by 71.1% in the third quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 499 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.