Knight-Swift Transportation (NYSE:KNX) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Knight-Swift Transportation (NYSE:KNX) from a sell rating to a hold rating in a research report sent to investors on Thursday.

KNX has been the subject of several other reports. Stifel Nicolaus lifted their price target on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Barclays boosted their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday, November 13th. TD Cowen raised their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Raymond James boosted their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Finally, 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 note on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $59.38.

Knight-Swift Transportation Stock Up 4.6 %

Shares of KNX opened at $57.54 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $55.24 and a two-hundred day moving average price of $53.35. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 78.82, a P/E/G ratio of 1.02 and a beta of 0.98. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Equities analysts predict that Knight-Swift Transportation will post 2.11 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.11%. Knight-Swift Transportation’s payout ratio is presently 87.67%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the transaction, the director now owns 30,729 shares in the company, valued at approximately $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. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. bought a new stake in shares of Knight-Swift Transportation during the third quarter worth approximately $70,185,000. Millennium Management LLC lifted its holdings in Knight-Swift Transportation by 309.7% during the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after purchasing an additional 807,572 shares during the last quarter. Brandes Investment Partners LP bought a new stake in Knight-Swift Transportation in the 2nd quarter valued at $30,251,000. Fortitude Family Office LLC acquired a new position in Knight-Swift Transportation in the 3rd quarter valued at $26,775,000. Finally, Allspring Global Investments Holdings LLC increased its position in Knight-Swift Transportation by 13.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock worth $219,870,000 after buying an additional 467,647 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.