Wells Fargo & Company Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $55.00

Knight-Swift Transportation (NYSE:KNX) had its target price decreased by investment analysts at Wells Fargo & Company from $65.00 to $55.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 23.30% from the stock’s previous close.

Several other equities research analysts have also weighed in on the company. Raymond James lifted their price objective on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Bank of America increased their price objective on Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Susquehanna dropped their target price on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating for the company in a research report on Wednesday. TD Cowen upped their price objective on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Finally, Citigroup upgraded shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Monday, March 10th. Eight investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.59.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $44.61 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 61.10 and a beta of 0.97. The stock’s 50 day moving average price is $51.68 and its two-hundred day moving average price is $53.23. Knight-Swift Transportation has a 52-week low of $42.72 and a 52-week high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. On average, equities analysts predict that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col purchased 5,000 shares of the stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Knight-Swift Transportation

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Knight-Swift Transportation during the 4th quarter valued at $240,000. Siemens Fonds Invest GmbH bought a new stake in Knight-Swift Transportation during the fourth quarter valued at about $497,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Knight-Swift Transportation in the fourth quarter valued at about $2,796,000. Toronto Dominion Bank boosted its stake in shares of Knight-Swift Transportation by 3.7% in the fourth quarter. Toronto Dominion Bank now owns 21,143 shares of the transportation company’s stock worth $1,121,000 after acquiring an additional 759 shares during the period. Finally, Castleark Management LLC purchased a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $247,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.