Stephens Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $60.00

Knight-Swift Transportation (NYSE:KNX) had its price objective dropped by equities researchers at Stephens from $65.00 to $60.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Stephens’ price target suggests a potential upside of 24.17% from the stock’s current price.

Several other analysts have also recently commented on KNX. Loop Capital cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $63.00 to $53.00 in a research note on Thursday. Bank of America reduced their target price on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus increased their price target on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. TD Cowen cut their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.62.

Knight-Swift Transportation Stock Down 0.4 %

Shares of Knight-Swift Transportation stock traded down $0.21 during trading hours on Thursday, hitting $48.32. The company had a trading volume of 1,682,058 shares, compared to its average volume of 2,068,040. The company’s 50-day moving average is $55.07 and its two-hundred day moving average is $54.23. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $7.80 billion, a P/E ratio of 36.33, a price-to-earnings-growth ratio of 1.47 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.38). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. Analysts anticipate that Knight-Swift Transportation will post 2.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds have recently modified their holdings of KNX. Victory Capital Management Inc. boosted its position in shares of Knight-Swift Transportation by 908.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after acquiring an additional 3,767,408 shares during the last quarter. Norges Bank acquired a new position in Knight-Swift Transportation during the fourth quarter valued at approximately $201,232,000. Wellington Management Group LLP lifted its position in Knight-Swift Transportation by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Knight-Swift Transportation by 94.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock valued at $85,249,000 after buying an additional 892,933 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in shares of Knight-Swift Transportation by 225.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock valued at $49,881,000 after purchasing an additional 599,193 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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.