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Bank of America Lowers Knight-Swift Transportation (NYSE:KNX) Price Target to $61.00

Knight-Swift Transportation logo with Transportation background

Knight-Swift Transportation (NYSE:KNX - Free Report) had its target price decreased by Bank of America from $64.00 to $61.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the transportation company's stock.

KNX has been the topic of a number of other reports. Stifel Nicolaus increased their price target on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a "hold" rating in a report on Friday, October 25th. Citigroup downgraded shares of Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price target on the stock. in a research note on Tuesday, November 12th. Susquehanna raised their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Barclays lifted their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an "overweight" rating in a report on Wednesday, November 13th. Finally, TD Cowen boosted their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $57.00.

View Our Latest Report on Knight-Swift Transportation

Knight-Swift Transportation Trading Down 1.8 %

NYSE:KNX traded down $0.99 during mid-day trading on Tuesday, hitting $53.93. 2,117,494 shares of the company's stock were exchanged, compared to its average volume of 2,035,543. The company has a 50 day simple moving average of $55.10 and a 200-day simple moving average of $52.38. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The firm has a market capitalization of $8.73 billion, a P/E ratio of 234.49, a PEG ratio of 1.89 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation's revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, research analysts expect that Knight-Swift Transportation will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be issued a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.19%. Knight-Swift Transportation's dividend payout ratio (DPR) is 278.27%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the business's stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now owns 30,729 shares in the company, valued at $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. Insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Institutional investors and hedge funds have recently modified their holdings of the stock. Deseret Mutual Benefit Administrators increased its position in Knight-Swift Transportation by 87.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company's stock worth $40,000 after buying an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake 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. Blue Trust Inc. lifted its stake in Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company's stock worth $51,000 after purchasing an additional 579 shares during the period. GAMMA Investing LLC increased its holdings in shares of Knight-Swift Transportation by 36.6% during the third quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company's stock worth $61,000 after buying an additional 302 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Knight-Swift Transportation by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company's stock worth $62,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

About Knight-Swift Transportation

(Get Free Report)

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.

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