Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, Bank of America Analyst Says

Knight-Swift Transportation (NYSE:KNX - Free Report) had its target price increased by Bank of America from $61.00 to $63.00 in a research report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the transportation company's stock.

KNX has been the topic of a number of other research reports. Citigroup cut Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 price target on the stock. in a research report on Tuesday, November 12th. Evercore ISI upped their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an "in-line" rating in a report on Thursday, October 24th. Raymond James lifted their target price on shares of Knight-Swift Transportation from $60.00 to $62.00 and gave the stock a "strong-buy" rating in a research note on Friday, January 10th. TD Cowen boosted their price target on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Susquehanna raised shares of Knight-Swift Transportation from a "neutral" rating to a "positive" rating and raised their price objective for the stock from $48.00 to $67.00 in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and an average target price of $58.56.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX traded down $1.48 during mid-day trading on Thursday, reaching $54.87. 2,867,803 shares of the company's stock were exchanged, compared to its average volume of 1,853,576. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 238.55, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. The firm has a 50-day moving average price of $55.39 and a two-hundred day moving average price of $53.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company's quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. Analysts predict that Knight-Swift Transportation will post 1.04 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Friday, December 6th. Knight-Swift Transportation's dividend payout ratio is currently 278.27%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation 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 completion of the sale, the director now owns 30,729 shares of the company's stock, 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 at this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the company'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. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds have recently made changes to their positions in the business. Dakota Wealth Management purchased a new position in Knight-Swift Transportation in the 4th quarter worth $209,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company's stock worth $67,000 after buying an additional 213 shares during the period. UMB Bank n.a. lifted its stake in shares of Knight-Swift Transportation by 84.3% in the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company's stock valued at $43,000 after acquiring an additional 370 shares during the last quarter. HB Wealth Management LLC boosted its holdings in Knight-Swift Transportation by 19.2% during the 4th quarter. HB Wealth Management LLC now owns 5,407 shares of the transportation company's stock valued at $287,000 after acquiring an additional 871 shares during the period. Finally, Oak Thistle LLC grew its position in Knight-Swift Transportation by 31.5% during the 4th quarter. Oak Thistle LLC now owns 14,831 shares of the transportation company's stock worth $787,000 after acquiring an additional 3,555 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.