Knight-Swift Transportation (NYSE:KNX – Get Free Report) had its price target boosted by research analysts at Susquehanna from $85.00 to $93.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the transportation company’s stock. Susquehanna‘s price objective would suggest a potential upside of 50.16% from the company’s previous close.
Several other equities analysts have also issued reports on KNX. Citizens Jmp started coverage on Knight-Swift Transportation in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $90.00 price target on the stock. Wall Street Zen cut Knight-Swift Transportation from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Stifel Nicolaus raised their price objective on shares of Knight-Swift Transportation from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday. Bank of America lowered their price objective on shares of Knight-Swift Transportation from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $84.00 price objective on shares of Knight-Swift Transportation in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average price target of $83.22.
Check Out Our Latest Stock Report on KNX
Knight-Swift Transportation Trading Up 1.2%
Shares of NYSE:KNX traded up $0.72 during midday trading on Monday, reaching $61.93. The company’s stock had a trading volume of 86,623 shares, compared to its average volume of 3,658,150. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 66.75, a PEG ratio of 0.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a 50 day moving average price of $66.77 and a two-hundred day moving average price of $69.64. Knight-Swift Transportation has a fifty-two week low of $41.24 and a fifty-two week high of $82.86.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.76 by $0.07. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the prior year, the company earned $0.32 EPS. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, analysts forecast that Knight-Swift Transportation will post 2.55 earnings per share for the current year.
Insiders Place Their Bets
In other Knight-Swift Transportation news, CAO Cary Flanagan sold 3,600 shares of Knight-Swift Transportation stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $70.82, for a total transaction of $254,952.00. Following the completion of the transaction, the chief accounting officer owned 5,405 shares in the company, valued at approximately $382,782.10. The trade was a 39.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Vander Ploeg sold 2,200 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total value of $115,126.00. Following the completion of the sale, the director directly owned 30,252 shares of the company’s stock, valued at approximately $1,583,087.16. This trade represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 224,954 shares of company stock worth $16,183,454. Insiders own 2.90% of the company’s stock.
Institutional Trading of Knight-Swift Transportation
A number of large investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC bought a new stake in shares of Knight-Swift Transportation in the 2nd quarter worth approximately $173,669,000. Encompass Capital Advisors LLC purchased a new stake in shares of Knight-Swift Transportation in the 1st quarter valued at $28,790,000. Assenagon Asset Management S.A. bought a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at $29,990,000. Norris Perne & French LLP MI grew its holdings in shares of Knight-Swift Transportation by 248.3% during the 3rd quarter. Norris Perne & French LLP MI now owns 473,393 shares of the transportation company’s stock valued at $30,103,000 after purchasing an additional 337,461 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Knight-Swift Transportation by 152.4% in the 2nd quarter. Baird Financial Group Inc. now owns 426,026 shares of the transportation company’s stock worth $33,175,000 after purchasing an additional 257,256 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.
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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