Knight-Swift Transportation (NYSE:KNX) Downgraded by Bank of America to "Neutral"

Knight-Swift Transportation (NYSE:KNX - Get Free Report) was downgraded by equities research analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued on Tuesday, MarketBeat Ratings reports. They presently have a $46.00 price target on the transportation company's stock, down from their prior price target of $66.00. Bank of America's price target points to a potential upside of 17.91% from the stock's current price.

KNX has been the subject of several other research reports. Wells Fargo & Company cut their price target on Knight-Swift Transportation from $65.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Raymond James upped their price objective on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a "strong-buy" rating in a research report on Thursday, January 23rd. Benchmark initiated coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They issued a "buy" rating and a $63.00 target price on the stock. Citigroup raised shares of Knight-Swift Transportation from a "sell" rating to a "neutral" rating and set a $53.00 price target for the company in a report on Monday, March 10th. Finally, TD Cowen lifted their price objective on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.24.

Knight-Swift Transportation Stock Performance

NYSE:KNX traded down $0.56 during trading hours on Tuesday, reaching $39.01. 4,842,310 shares of the company's stock were exchanged, compared to its average volume of 2,245,231. Knight-Swift Transportation has a 1-year low of $36.69 and a 1-year high of $61.51. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.32 billion, a price-to-earnings ratio of 53.44 and a beta of 0.97. The company has a 50-day moving average of $49.84 and a 200 day moving average of $52.79.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Research analysts anticipate that Knight-Swift Transportation will post 2.13 EPS for the current year.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col purchased 5,000 shares of the stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Voya Investment Management LLC raised its holdings in shares of Knight-Swift Transportation by 0.9% in the fourth quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company's stock worth $1,090,000 after acquiring an additional 192 shares during the last quarter. GAMMA Investing LLC raised its stake in Knight-Swift Transportation by 18.5% in the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company's stock valued at $71,000 after purchasing an additional 208 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Knight-Swift Transportation by 20.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock valued at $67,000 after purchasing an additional 213 shares in the last quarter. Benjamin Edwards Inc. boosted its stake 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 purchasing an additional 216 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Knight-Swift Transportation by 8.5% during the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company's stock worth $147,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.

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.