Knight-Swift Transportation (NYSE:KNX) PT Lowered to $44.00

Knight-Swift Transportation (NYSE:KNX) had its target price dropped by investment analysts at The Goldman Sachs Group from $48.00 to $44.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s price target points to a potential downside of 12.23% from the stock’s current price.

A number of other brokerages also recently weighed in on KNX. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Barclays lifted their price objective on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. UBS Group dropped their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Finally, StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Knight-Swift Transportation Stock Down 1.7 %

Shares of NYSE:KNX opened at $50.13 on Wednesday. The firm has a fifty day moving average price of $52.26 and a two-hundred day moving average price of $50.50. The company has a market cap of $8.11 billion, a price-to-earnings ratio of 122.27, a PEG ratio of 1.44 and a beta of 0.92. 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 one year low of $45.55 and a one year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. Knight-Swift Transportation’s quarterly revenue was up 18.9% compared to the same quarter last year. Analysts anticipate that Knight-Swift Transportation will post 1.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the transaction, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the transaction, the chairman now owns 1,422,360 shares in the company, valued at $73,294,210.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 30,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the transaction, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,196 shares of company stock worth $4,367,869. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNX. Commonwealth Equity Services LLC grew its position in shares of Knight-Swift Transportation by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock worth $1,230,000 after buying an additional 196 shares during the period. United Services Automobile Association grew its holdings in Knight-Swift Transportation by 1.6% in the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock worth $637,000 after purchasing an additional 199 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. MQS Management LLC boosted its position in shares of Knight-Swift Transportation by 3.7% in the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after purchasing an additional 250 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after buying an additional 253 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.