Bank of America Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $61.00

Knight-Swift Transportation (NYSE:KNX) had its price objective reduced by Bank of America from $64.00 to $61.00 in a research note released on Tuesday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Several other equities analysts have also weighed in on the company. Stifel Nicolaus increased their price objective on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Raymond James lifted their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Monday, October 14th. Susquehanna upped their price objective on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group lifted their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Evercore ISI upped their price target on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.00.

Knight-Swift Transportation Trading Down 0.4 %

Shares of Knight-Swift Transportation stock opened at $52.28 on Tuesday. The firm has a market cap of $8.46 billion, a PE ratio of 227.31, a P/E/G ratio of 1.89 and a beta of 0.96. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year 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 fifty day moving average price of $55.22 and a 200-day moving average price of $52.42.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. Equities research analysts anticipate that Knight-Swift Transportation will post 1.05 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s payout ratio is 278.26%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the firm’s 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock valued at $379,133,000 after purchasing an additional 744,412 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Knight-Swift Transportation by 27.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after buying an additional 1,176,069 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 buying an additional 467,647 shares during the period. Geode Capital Management LLC lifted its stake 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 acquiring an additional 46,436 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in shares of Knight-Swift Transportation by 3.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock valued at $81,729,000 after acquiring an additional 57,493 shares during the last quarter. 88.77% of the stock is 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.