Knight-Swift Transportation (NYSE:KNX) Given New $61.00 Price Target at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its price objective lowered by investment analysts at Bank of America from $64.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price indicates a potential upside of 11.07% from the company’s previous close.

KNX has been the subject of a number of other reports. Susquehanna increased 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 report on Thursday, September 26th. Stifel Nicolaus increased their target price on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Evercore ISI raised their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Barclays boosted their price objective on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley decreased their price target on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $57.00.

Knight-Swift Transportation Trading Down 0.9 %

NYSE:KNX opened at $54.92 on Tuesday. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99. The firm has a 50-day moving average price of $55.10 and a two-hundred day moving average price of $52.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 238.79, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. On average, equities analysts expect that Knight-Swift Transportation will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the transaction, the director now directly 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. 3.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its holdings 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 purchasing an additional 196 shares during the period. United Services Automobile Association boosted its stake in Knight-Swift Transportation by 1.6% during the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock worth $637,000 after buying an additional 199 shares during the period. Brown Brothers Harriman & Co. increased its position in 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 acquiring an additional 200 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Knight-Swift Transportation by 4.6% in the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock valued at $280,000 after acquiring an additional 228 shares during the period. Finally, MQS Management LLC lifted its stake in Knight-Swift Transportation by 3.7% in the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after purchasing an additional 250 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.