Raymond James Raises Knight-Swift Transportation (NYSE:KNX) Price Target to $58.00

Knight-Swift Transportation (NYSE:KNX - Free Report) had its price target hoisted by Raymond James from $57.00 to $58.00 in a report released on Monday, Benzinga reports. The brokerage currently has a strong-buy rating on the transportation company's stock.

Several other research firms also recently commented on KNX. TD Cowen upped their target price on Knight-Swift Transportation from $47.00 to $57.00 and gave the company a buy rating in a research report on Thursday, July 25th. Evercore ISI lowered their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set an in-line rating on the stock in a research report on Thursday, October 3rd. UBS Group decreased their price target on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Bank of America lifted their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, Susquehanna increased their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a neutral rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of Moderate Buy and a consensus price target of $55.88.

Knight-Swift Transportation Stock Performance

NYSE KNX traded up $0.03 on Monday, hitting $50.94. 1,142,531 shares of the stock were exchanged, compared to its average volume of 2,051,271. The company has a market capitalization of $8.24 billion, a PE ratio of 124.23, a P/E/G ratio of 1.41 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The business's fifty day moving average is $52.21 and its 200 day moving average is $50.42. 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 issued its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business posted $0.49 earnings per share. The company's revenue for the quarter was up 18.9% on a year-over-year basis. Research analysts anticipate that Knight-Swift Transportation will post 1.08 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.26%. Knight-Swift Transportation's dividend payout ratio (DPR) is currently 156.10%.

Insiders Place Their Bets

In related news, Chairman Kevin P. Knight sold 45,000 shares of the company's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now owns 1,422,360 shares in the company, valued at $73,294,210.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the transaction, the chairman now directly owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC raised its stake in Knight-Swift Transportation by 63.8% during the 4th quarter. V Square Quantitative Management LLC now owns 1,697 shares of the transportation company's stock worth $98,000 after buying an additional 661 shares during the period. Vanguard Group Inc. raised its position in shares of Knight-Swift Transportation by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company's stock worth $865,977,000 after purchasing an additional 57,000 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company's stock worth $35,000 after purchasing an additional 253 shares in the last quarter. Rise Advisors LLC acquired a new stake in Knight-Swift Transportation in the 1st quarter valued at $25,000. Finally, Polianta Ltd increased its stake in Knight-Swift Transportation by 15.4% during the 1st quarter. Polianta Ltd now owns 19,500 shares of the transportation company's stock valued at $1,072,000 after purchasing an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company's stock.

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.