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

Knight-Swift Transportation (NYSE:KNX) had its price target lowered by Barclays from $68.00 to $62.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

KNX has been the subject of several other research reports. Benchmark started coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They set a “buy” rating and a $63.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Raymond James upped their price target on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Citigroup raised shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.24.

Knight-Swift Transportation Trading Down 1.4 %

Shares of NYSE KNX opened at $39.01 on Wednesday. Knight-Swift Transportation has a 52-week low of $36.69 and a 52-week high of $61.51. The firm’s 50 day moving average price is $49.84 and its 200-day moving average price is $52.79. The company has a market cap of $6.32 billion, a PE ratio of 53.44 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data 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 net margin of 1.59% and a return on equity of 2.43%. On average, equities research analysts expect that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th were issued a dividend of $0.18 per share. The ex-dividend date was Friday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. Knight-Swift Transportation’s payout ratio is 98.63%.

Insider Buying and Selling

In related news, Director Douglas L. Col purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $226,850. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently made changes to their positions in the company. Voya Investment Management LLC raised its position in shares of Knight-Swift Transportation by 0.9% during the fourth quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company’s stock worth $1,090,000 after purchasing an additional 192 shares during the period. GAMMA Investing LLC grew 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 acquiring an additional 208 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Knight-Swift Transportation by 20.5% during the 4th 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 in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Knight-Swift Transportation by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company’s stock valued at $355,000 after buying an additional 216 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Knight-Swift Transportation by 8.5% in the 4th quarter. Signaturefd LLC now owns 2,769 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 218 shares during the period. 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.