Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $55.00 by Analysts at Evercore ISI

Knight-Swift Transportation (NYSE:KNX) had its price target lowered by Evercore ISI from $60.00 to $55.00 in a report published on Thursday, Benzinga reports. The brokerage currently has an in-line rating on the transportation company’s stock.

KNX has been the topic of several other reports. Bank of America cut their price objective on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating on the stock in a research report on Thursday, April 18th. TD Cowen lowered their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a research report on Thursday, April 18th. Stephens lowered their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Robert W. Baird decreased their price target on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating for the company in a research note on Thursday. Finally, Susquehanna reduced their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation has an average rating of Hold and a consensus price target of $57.71.

Knight-Swift Transportation Stock Performance

NYSE KNX traded down $0.28 on Thursday, reaching $46.86. The stock had a trading volume of 1,884,727 shares, compared to its average volume of 2,159,180. Knight-Swift Transportation has a 1-year low of $45.73 and a 1-year 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 $7.57 billion, a P/E ratio of 70.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The firm has a fifty day moving average of $53.72 and a two-hundred day moving average of $54.17.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.53%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $0.73 EPS. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that Knight-Swift Transportation will post 1.31 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.37%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its holdings in shares of 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 worth $906,016,000 after purchasing an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Knight-Swift Transportation by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after purchasing an additional 57,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Knight-Swift Transportation by 908.9% during 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 bought a new stake in shares of Knight-Swift Transportation during the 4th quarter worth approximately $201,232,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Knight-Swift Transportation by 10.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,371,944 shares of the transportation company’s stock valued at $185,524,000 after acquiring an additional 311,788 shares in the last quarter. 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.