Knight-Swift Transportation (KNX) Price Target Raised to $55.00

Knight-Swift Transportation (NYSE:KNX) had its price target raised by KeyCorp from $45.00 to $55.00 in a report published on Tuesday. The firm currently has an overweight rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group raised their price objective on shares of Knight-Swift Transportation from $43.00 to $53.00 and gave the stock a buy rating in a research note on Friday, September 29th. Seaport Global Securities reaffirmed a buy rating on shares of Knight-Swift Transportation in a research note on Thursday, September 21st. Citigroup started coverage on shares of Knight-Swift Transportation in a research note on Tuesday, September 19th. They set a buy rating and a $48.00 price objective on the stock. ValuEngine raised shares of Knight-Swift Transportation from a hold rating to a buy rating in a research note on Tuesday, September 12th. Finally, Knight Equity raised shares of Knight-Swift Transportation to a buy rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. Knight-Swift Transportation has an average rating of Buy and a consensus price target of $42.41.

Shares of Knight-Swift Transportation (KNX) traded up $0.21 during trading hours on Tuesday, reaching $45.15. 1,357,400 shares of the company traded hands, compared to its average volume of 1,677,867. Knight-Swift Transportation has a one year low of $26.68 and a one year high of $45.60. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.14. The firm has a market cap of $7,996.31, a P/E ratio of 50.10 and a beta of 2.03.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Monday, November 6th. The transportation company reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.05). Knight-Swift Transportation had a return on equity of 7.48% and a net margin of 2.44%. The business had revenue of $521.61 million during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company posted $0.34 EPS. research analysts anticipate that Knight-Swift Transportation will post 1.13 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, November 30th. This represents a $0.24 annualized dividend and a dividend yield of 0.53%. Knight-Swift Transportation’s dividend payout ratio is presently 6.66%.

In related news, General Counsel Todd F. Carlson sold 9,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.24, for a total value of $353,160.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael Garnreiter sold 1,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $43.00, for a total transaction of $43,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,500 shares of company stock worth $492,410. Insiders own 9.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of KNX. Sei Investments Co. purchased a new stake in Knight-Swift Transportation in the 2nd quarter valued at about $562,000. Schwab Charles Investment Management Inc. grew its position in Knight-Swift Transportation by 7.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 417,074 shares of the transportation company’s stock valued at $15,453,000 after acquiring an additional 30,488 shares in the last quarter. Legal & General Group Plc grew its position in Knight-Swift Transportation by 13.1% in the 2nd quarter. Legal & General Group Plc now owns 130,344 shares of the transportation company’s stock valued at $4,829,000 after acquiring an additional 15,090 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Knight-Swift Transportation by 76.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 24,110 shares of the transportation company’s stock valued at $893,000 after acquiring an additional 10,421 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Knight-Swift Transportation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 5,385 shares of the transportation company’s stock valued at $200,000 after acquiring an additional 807 shares in the last quarter. Hedge funds and other institutional investors own 78.22% of the company’s stock.

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Knight-Swift Transportation Company Profile

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.

Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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