Citigroup Initiates Coverage on Knight-Swift Transportation (NYSE:KNX)

Stock analysts at Citigroup initiated coverage on shares of Knight-Swift Transportation (NYSE:KNX) in a report issued on Wednesday, MarketBeat reports. The firm set a “neutral” rating and a $55.00 price target on the transportation company’s stock. Citigroup’s target price points to a potential upside of 9.71% from the company’s current price.

KNX has been the subject of several other research reports. Evercore ISI reduced their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set an “in-line” rating for the company in a research note on Thursday, October 3rd. TD Cowen increased their target price on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Raymond James reduced their target price on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Susquehanna increased their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Knight-Swift Transportation Stock Down 1.7 %

KNX stock opened at $50.13 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99. The company has a 50-day moving average of $52.26 and a two-hundred day moving average of $50.50. The stock has a market capitalization of $8.11 billion, a price-to-earnings ratio of 122.27, a price-to-earnings-growth ratio of 1.44 and a beta of 0.92.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, equities research analysts anticipate that Knight-Swift Transportation will post 1.08 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the sale, the director now owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Chairman Kevin P. Knight sold 30,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the transaction, the chairman now owns 1,467,360 shares in the company, valued at $73,852,228.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now owns 17,648 shares of the company’s stock, valued at $892,459.36. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,196 shares of company stock valued at $4,367,869. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently bought and sold shares of KNX. Wellington Management Group LLP grew its holdings 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 boosted its holdings in shares of 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 worth $64,547,000 after acquiring an additional 1,278,011 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of 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 period. Dimensional Fund Advisors LP boosted its holdings in shares of Knight-Swift Transportation by 27.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after acquiring an additional 1,176,069 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Knight-Swift Transportation by 309.7% during the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after acquiring an additional 807,572 shares during the period. Institutional investors 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.