Knight-Swift Transportation (NYSE:KNX) PT Lowered to $49.00

Knight-Swift Transportation (NYSE:KNX) had its price objective reduced by Evercore ISI from $55.00 to $49.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the stock. TD Cowen increased their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a buy rating in a report on Thursday, July 25th. Bank of America increased their target price on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a buy rating in a report on Monday, July 22nd. Susquehanna boosted their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a neutral rating in a research note on Thursday, September 26th. Wolfe Research downgraded Knight-Swift Transportation from an outperform rating to a peer perform rating in a research note on Thursday, July 11th. Finally, Barclays lifted their price objective on Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an overweight rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $56.71.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $49.85 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average price of $52.40 and a 200 day moving average price of $50.54. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99. The company has a market cap of $8.07 billion, a P/E ratio of 74.40, a PEG ratio of 1.44 and a beta of 0.92.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.49 earnings per share. Research analysts predict that Knight-Swift Transportation will post 1.09 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a $0.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.28%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 95.52%.

Insiders Place Their Bets

In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the sale, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. 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 is available at the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the transaction, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock valued at $4,367,869 in the last ninety days. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake 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 worth $906,016,000 after purchasing an additional 2,137,296 shares during the period. Interval Partners LP grew its position in Knight-Swift Transportation by 8,520.1% during the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock valued at $64,547,000 after acquiring an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans increased its stake in Knight-Swift Transportation by 1,728.8% during the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock worth $66,440,000 after acquiring an additional 1,258,157 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after purchasing an additional 1,176,069 shares during the period. Finally, Millennium Management LLC raised its holdings in Knight-Swift Transportation by 309.7% in the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after buying an additional 807,572 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.