Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $62.00

Knight-Swift Transportation (NYSE:KNX) had its price target upped by Raymond James from $60.00 to $62.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a strong-buy rating on the transportation company’s stock.

Other research analysts have also issued research reports about the company. Barclays lifted their target price 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. Stifel Nicolaus boosted their target price on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Evercore ISI raised their price target on shares of 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. Morgan Stanley lowered their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. 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 investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Knight-Swift Transportation Trading Down 2.7 %

KNX opened at $52.38 on Friday. Knight-Swift Transportation has a 12-month low of $45.55 and a 12-month high of $60.99. 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 has a market capitalization of $8.48 billion, a PE ratio of 227.75, a P/E/G ratio of 1.89 and a beta of 0.98. The firm’s fifty day moving average price is $55.50 and its 200 day moving average price is $53.07.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results 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 business had revenue of $1.88 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 EPS. As a group, research analysts expect that Knight-Swift Transportation will post 1.05 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Knight-Swift Transportation’s dividend payout ratio is presently 278.26%.

Insider Buying and Selling

In related news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now directly owns 30,729 shares of the company’s stock, valued at $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were 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. 3.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KNX. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Knight-Swift Transportation during the 3rd quarter worth $3,729,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company’s stock valued at $61,878,000 after purchasing an additional 26,346 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Knight-Swift Transportation by 30.9% during the third quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company’s stock valued at $3,771,000 after purchasing an additional 16,500 shares during the last quarter. Paloma Partners Management Co boosted its position in shares of Knight-Swift Transportation by 681.6% in the 3rd quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company’s stock valued at $3,237,000 after purchasing an additional 52,323 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in Knight-Swift Transportation by 116.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock worth $7,056,000 after purchasing an additional 70,276 shares in 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.