Knight-Swift Transportation (NYSE:KNX) PT Lowered to $50.00

Knight-Swift Transportation (NYSE:KNX) had its price target reduced by Susquehanna from $59.00 to $50.00 in a report released on Thursday, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

Several other equities analysts also recently issued reports on the company. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and cut their price objective for the company from $63.00 to $53.00 in a research report on Thursday. JPMorgan Chase & Co. cut their price objective on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. TD Cowen dropped their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research report on Thursday. Barclays dropped their target price on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating for the company in a research report on Monday, April 1st. Finally, Stifel Nicolaus boosted their target price on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Knight-Swift Transportation currently has an average rating of Moderate Buy and an average target price of $57.77.

Knight-Swift Transportation Price Performance

Shares of KNX stock opened at $47.88 on Thursday. The stock’s fifty day simple moving average is $54.83 and its 200 day simple moving average is $54.19. 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 firm has a market cap of $7.73 billion, a price-to-earnings ratio of 36.00, a P/E/G ratio of 1.40 and a beta of 0.99. Knight-Swift Transportation has a one year low of $45.73 and a one year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 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%. On average, analysts expect that Knight-Swift Transportation will post 2.3 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.34%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 48.12%.

Insider Activity at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KNX. Raymond James & Associates boosted its position in Knight-Swift Transportation by 22.1% during the first quarter. Raymond James & Associates now owns 76,395 shares of the transportation company’s stock valued at $3,855,000 after purchasing an additional 13,808 shares during the last quarter. US Bancorp DE lifted its position in shares of Knight-Swift Transportation by 57.6% in the first quarter. US Bancorp DE now owns 14,450 shares of the transportation company’s stock valued at $729,000 after buying an additional 5,283 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Knight-Swift Transportation by 23.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company’s stock valued at $706,000 after buying an additional 2,677 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Knight-Swift Transportation by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 211,351 shares of the transportation company’s stock valued at $11,126,000 after buying an additional 7,824 shares during the last quarter. Finally, Sei Investments Co. lifted its position in shares of Knight-Swift Transportation by 6.7% in the first quarter. Sei Investments Co. now owns 141,380 shares of the transportation company’s stock valued at $7,135,000 after buying an additional 8,923 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.