Knight-Swift Transportation (NYSE:KNX) Lowered to Neutral Rating by Bank of America

Knight-Swift Transportation (NYSE:KNX) was downgraded by stock analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $46.00 price target on the transportation company’s stock, down from their prior price target of $66.00. Bank of America‘s price target would indicate a potential upside of 2.09% from the company’s previous close.

Several other research firms also recently issued reports on KNX. Raymond James raised their price target on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their target price on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. StockNews.com upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. TD Cowen raised their price objective on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their target price on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and a consensus target price of $57.24.

Knight-Swift Transportation Stock Up 3.0 %

Shares of KNX opened at $45.06 on Tuesday. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 61.73 and a beta of 0.97. Knight-Swift Transportation has a 52 week low of $42.34 and a 52 week high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. The stock has a fifty day moving average of $50.56 and a 200-day moving average of $52.98.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, sell-side analysts anticipate that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Douglas L. Col bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average cost of $45.37 per share, with a total value of $226,850.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $226,850. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in KNX. Parkside Financial Bank & Trust grew its holdings in shares of Knight-Swift Transportation by 88.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after buying an additional 322 shares during the last quarter. UMB Bank n.a. boosted its stake in Knight-Swift Transportation by 84.3% during the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 370 shares during the last quarter. Quarry LP increased its holdings in Knight-Swift Transportation by 71.1% during the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock worth $65,000 after purchasing an additional 499 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after purchasing an additional 213 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Knight-Swift Transportation by 18.5% in the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.