Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $68.00

Knight-Swift Transportation (NYSE:KNX) had its target price boosted by equities research analysts at Barclays from $62.00 to $68.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target points to a potential upside of 21.62% from the stock’s previous close.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. The Goldman Sachs Group decreased their price objective on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Stifel Nicolaus lifted their target price on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, October 25th. StockNews.com raised Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. Finally, Raymond James raised their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.38.

Knight-Swift Transportation Stock Down 2.1 %

NYSE:KNX opened at $55.91 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $52.87 and a 200-day moving average of $50.91. The firm has a market capitalization of $9.05 billion, a PE ratio of 243.10, a price-to-earnings-growth ratio of 2.09 and a beta of 0.93. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results 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 return on equity of 1.81% and a net margin of 0.50%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. Analysts predict that Knight-Swift Transportation will post 1.05 EPS for the current year.

Insider Buying and Selling

In other news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation 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 sale, the director now directly owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Interval Partners LP lifted its stake in shares of Knight-Swift Transportation by 8,520.1% in the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock valued at $64,547,000 after purchasing an additional 1,278,011 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Knight-Swift Transportation by 1,728.8% during the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock valued at $66,440,000 after buying an additional 1,258,157 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Knight-Swift Transportation by 27.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after buying an additional 1,176,069 shares during the last quarter. Millennium Management LLC boosted its stake in shares of 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 acquiring an additional 807,572 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock valued at $379,133,000 after acquiring an additional 744,412 shares during the last quarter. Institutional investors 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.