Wall Street Zen upgraded shares of Knight-Swift Transportation (NYSE:KNX – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday,Wall Street Zen reports.
Other analysts have also issued research reports about the company. Benchmark upped their target price on Knight-Swift Transportation from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Wells Fargo & Company cut their price target on Knight-Swift Transportation from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. TD Cowen lifted their price target on Knight-Swift Transportation from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price objective on shares of Knight-Swift Transportation from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. Finally, Morgan Stanley set a $90.00 price objective on shares of Knight-Swift Transportation in a research note on Wednesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $83.22.
View Our Latest Stock Analysis on KNX
Knight-Swift Transportation Price Performance
KNX stock opened at $60.65 on Friday. The firm has a 50 day moving average of $65.80 and a 200-day moving average of $65.94. Knight-Swift Transportation has a 12-month low of $41.24 and a 12-month high of $82.86. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 65.22, a PEG ratio of 0.50 and a beta of 1.21.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.76 by $0.07. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. As a group, equities analysts expect that Knight-Swift Transportation will post 2.45 EPS for the current fiscal year.
Knight-Swift Transportation Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, September 4th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, September 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. Knight-Swift Transportation’s payout ratio is 86.02%.
Insider Transactions at Knight-Swift Transportation
In related news, Director David Vander Ploeg sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $52.33, for a total transaction of $115,126.00. Following the sale, the director owned 30,252 shares in the company, valued at approximately $1,583,087.16. This trade represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reid Dove sold 126,864 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $73.13, for a total transaction of $9,277,564.32. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 171,354 shares of company stock valued at $12,416,002. Insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of KNX. Chicago Partners Investment Group LLC increased its stake in shares of Knight-Swift Transportation by 18.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 12,604 shares of the transportation company’s stock valued at $772,000 after acquiring an additional 1,920 shares during the last quarter. Provenance Wealth Advisors LLC purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter worth about $53,000. Oregon Public Employees Retirement Fund boosted its position in shares of Knight-Swift Transportation by 0.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 33,758 shares of the transportation company’s stock worth $2,147,000 after acquiring an additional 200 shares during the last quarter. Vise Technologies Inc. boosted its position in shares of Knight-Swift Transportation by 104.8% in the third quarter. Vise Technologies Inc. now owns 17,666 shares of the transportation company’s stock worth $1,123,000 after acquiring an additional 9,041 shares during the last quarter. Finally, Glenview Trust Co acquired a new stake in shares of Knight-Swift Transportation in the third quarter worth approximately $5,521,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.
Knight-Swift Transportation Company Profile
Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.
Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.
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