Knight-Swift Transportation (NYSE:KNX) Given New $62.00 Price Target at Raymond James

Knight-Swift Transportation (NYSE:KNX) had its target price boosted by Raymond James from $60.00 to $62.00 in a research report released on Friday morning,Benzinga reports. Raymond James currently has a strong-buy rating on the transportation company’s stock.

KNX has been the subject of a number of other reports. Citigroup lowered Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a research report on Tuesday, November 12th. TD Cowen upped their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and lifted their price target for the company from $48.00 to $67.00 in a research report on Friday, January 3rd. Morgan Stanley lowered their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Barclays boosted their target price on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Knight-Swift Transportation Trading Down 2.7 %

NYSE KNX opened at $52.38 on Friday. The stock has a market capitalization of $8.48 billion, a P/E ratio of 227.75, a P/E/G ratio of 1.89 and a beta of 0.98. The business has a 50 day simple moving average of $55.50 and a 200 day simple moving average of $53.01. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99.

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

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were given 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 of this dividend was Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is presently 278.26%.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Institutional investors have recently added to or reduced their stakes in the business. Everence Capital Management Inc. purchased a new stake in shares of Knight-Swift Transportation during the 4th quarter valued at approximately $221,000. GAMMA Investing LLC lifted its position in shares of Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after acquiring an additional 208 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Knight-Swift Transportation by 21.5% in the third quarter. Principal Financial Group Inc. now owns 653,238 shares of the transportation company’s stock worth $35,242,000 after acquiring an additional 115,447 shares during the period. American Trust purchased a new position in shares of Knight-Swift Transportation in the third quarter valued at $204,000. Finally, Franklin Resources Inc. bought a new stake in shares of Knight-Swift Transportation during the 3rd quarter valued at $70,185,000. 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.