Knight-Swift Transportation (NYSE:KNX) Rating Increased to Hold at StockNews.com

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

Other equities research analysts have also recently issued reports about the company. Raymond James upped their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and boosted their price target for the stock from $48.00 to $67.00 in a research note on Friday, January 3rd. 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. TD Cowen lifted their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $57.22 on Thursday. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $61.51. The stock has a market cap of $9.26 billion, a price-to-earnings ratio of 78.38, a price-to-earnings-growth ratio of 1.02 and a beta of 0.98. The firm has a 50-day moving average of $55.27 and a two-hundred day moving average of $53.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. On average, research analysts forecast that Knight-Swift Transportation will post 2.11 earnings per share for the current year.

Insider Buying and Selling

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction that occurred 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 completion of the transaction, the director now owns 30,729 shares in the company, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds have recently modified their holdings of KNX. Allspring Global Investments Holdings LLC raised its position in Knight-Swift Transportation by 13.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock worth $219,870,000 after acquiring an additional 467,647 shares in the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $147,529,000 after purchasing an additional 46,436 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of Knight-Swift Transportation by 34.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock valued at $76,224,000 after purchasing an additional 359,566 shares during the period. Franklin Resources Inc. purchased a new stake in Knight-Swift Transportation during the third quarter worth about $70,185,000. Finally, Thrivent Financial for Lutherans lifted 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 acquiring an additional 6,803 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

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.