Knight-Swift Transportation (NYSE:KNX) Upgraded at Citigroup

Citigroup upgraded shares of Knight-Swift Transportation (NYSE:KNX) from a sell rating to a neutral rating in a report released on Monday morning, Marketbeat reports. The brokerage currently has $53.00 target price on the transportation company’s stock.

A number of other brokerages have also recently commented on KNX. The Goldman Sachs Group boosted their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. TD Cowen boosted their target price on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Bank of America boosted their target price on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Raymond James boosted their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Benchmark initiated coverage on Knight-Swift Transportation in a research report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.41.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $46.75 on Monday. The firm has a market cap of $7.57 billion, a PE ratio of 64.04 and a beta of 0.97. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $61.51. 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 business has a 50 day moving average price of $53.41 and a 200-day moving average price of $53.69.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, topping 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%. Equities research analysts predict that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.54%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio is presently 98.63%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC boosted its stake in Knight-Swift Transportation by 0.9% in the 4th quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company’s stock worth $1,090,000 after purchasing an additional 192 shares during the period. GAMMA Investing LLC raised its holdings in shares of Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after acquiring an additional 208 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Knight-Swift Transportation by 20.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after acquiring an additional 213 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Knight-Swift Transportation by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company’s stock worth $355,000 after acquiring an additional 216 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Knight-Swift Transportation by 8.5% during the 4th quarter. Signaturefd LLC now owns 2,769 shares of the transportation company’s stock worth $147,000 after acquiring an additional 218 shares in the last quarter. 88.77% of the stock is currently owned by 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.