Knight-Swift Transportation (NYSE:KNX) PT Raised to $57.00 at TD Cowen

Knight-Swift Transportation (NYSE:KNX) had its price objective hoisted by equities research analysts at TD Cowen from $47.00 to $57.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 11.22% from the company’s previous close.

Other analysts also recently issued reports about the company. Stephens decreased their price target on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Robert W. Baird lowered their target price on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. UBS Group cut their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Loop Capital lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and lowered their price objective for the company from $63.00 to $53.00 in a research note on Thursday, April 18th. Finally, Susquehanna dropped their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average target price of $56.79.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $51.25 on Thursday. The stock has a market capitalization of $8.28 billion, a PE ratio of 76.49, a PEG ratio of 1.41 and a beta of 0.94. The business’s 50 day simple moving average is $48.74 and its 200 day simple moving average is $52.11. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.93. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the firm posted $0.49 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, research analysts forecast that Knight-Swift Transportation will post 1.2 earnings per share for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in KNX. Allspring Global Investments Holdings LLC boosted its position in shares of Knight-Swift Transportation by 7.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock valued at $180,101,000 after buying an additional 235,858 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in Knight-Swift Transportation by 81.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 6,885 shares of the transportation company’s stock valued at $344,000 after acquiring an additional 3,086 shares in the last quarter. IMA Advisory Services Inc. purchased a new position in Knight-Swift Transportation during the 2nd quarter worth $3,138,000. Ceredex Value Advisors LLC grew its stake in shares of Knight-Swift Transportation by 3.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock worth $81,729,000 after acquiring an additional 57,493 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Knight-Swift Transportation in the second quarter valued at about $2,707,000. 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.