Bank of America Raises Knight-Swift Transportation (NYSE:KNX) Price Target to $58.00

Knight-Swift Transportation (NYSE:KNX) had its price objective raised by Bank of America from $57.00 to $58.00 in a report issued on Thursday morning, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

A number of other research firms also recently issued reports on KNX. Citigroup began coverage on Knight-Swift Transportation in a research note on Wednesday, October 9th. They set a “neutral” rating and a $55.00 price target for the company. StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. Raymond James upped their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Monday, October 14th. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, Evercore ISI upped their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.94.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $52.55 on Thursday. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99. The stock’s 50 day moving average is $52.22 and its 200-day moving average is $50.35. 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 firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 128.17, a PEG ratio of 1.74 and a beta of 0.92.

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, topping the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. Sell-side analysts forecast that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid 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 was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 156.10%.

Insider Activity

In related news, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 13th. The shares were 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 in the company, valued at $892,459.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 17,648 shares in the company, valued at $892,459.36. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,196 shares of company stock valued at $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of large investors have recently added to or reduced their stakes in KNX. Versant Capital Management Inc boosted its holdings in shares of Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after buying an additional 343 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Knight-Swift Transportation by 36.6% during the third quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after acquiring an additional 302 shares in the last quarter. 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.