Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $58.00

Knight-Swift Transportation (NYSE:KNX) had its target price hoisted by equities research analysts at Raymond James from $57.00 to $58.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price target indicates a potential upside of 12.54% from the stock’s current price.

KNX has been the topic of a number of other research reports. Bank of America lifted their target price on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. The Goldman Sachs Group dropped their price target on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. UBS Group reduced their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. upped their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average price target of $55.88.

Knight-Swift Transportation Stock Up 1.2 %

KNX opened at $51.54 on Monday. The firm’s 50 day simple moving average is $52.19 and its two-hundred day simple moving average is $50.40. The company has a market capitalization of $8.33 billion, a PE ratio of 76.92, a PEG ratio of 1.41 and a beta of 0.92. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $60.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. As a group, equities analysts forecast that Knight-Swift Transportation will post 1.08 EPS for the current year.

Insider Transactions at Knight-Swift Transportation

In related news, Director Michael Garnreiter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the transaction, the director now directly owns 17,648 shares in the company, valued at approximately $892,459.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the sale, the director now directly owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. The trade was a 0.00 % decrease in their ownership of the stock. 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 45,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the transaction, the chairman now directly owns 1,422,360 shares in the company, valued at $73,294,210.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,196 shares of company stock worth $4,367,869. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds have recently made changes to their positions in the company. Rise Advisors LLC purchased a new stake in shares of Knight-Swift Transportation during the first quarter valued at about $25,000. GAMMA Investing LLC boosted its holdings in Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after acquiring an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 200 shares in the last quarter. Finally, Blue Trust Inc. raised its position in shares of Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 579 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.