TD Cowen Boosts Knight-Swift Transportation (NYSE:KNX) Price Target to $56.00

Knight-Swift Transportation (NYSE:KNX) had its price objective boosted by TD Cowen from $55.00 to $56.00 in a research note published on Thursday, MarketBeat reports. They currently have a buy rating on the transportation company’s stock.

KNX has been the subject of a number of other research reports. UBS Group decreased their target price on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Raymond James lifted their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Monday, October 14th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Barclays boosted their price target on Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Finally, Susquehanna increased their price objective on Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.94.

Knight-Swift Transportation Price Performance

KNX stock opened at $52.55 on Thursday. The stock has a 50-day moving average price of $52.22 and a two-hundred day moving average price of $50.35. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $60.99. The stock has a market cap of $8.51 billion, a PE ratio of 128.17, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

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 analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm earned $0.41 EPS. Knight-Swift Transportation’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts forecast that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s payout ratio is 156.10%.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total value of $1,509,900.00. Following the transaction, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC raised its holdings in 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 valued at $1,230,000 after acquiring an additional 196 shares in the last quarter. United Services Automobile Association raised its stake 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 valued at $637,000 after purchasing an additional 199 shares in the last quarter. Brown Brothers Harriman & Co. lifted 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 worth $45,000 after purchasing an additional 200 shares during the period. MQS Management LLC grew its stake in Knight-Swift Transportation by 3.7% during the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after buying an additional 250 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Knight-Swift Transportation by 36.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after buying an additional 302 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.