Bank of America Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $58.00

Knight-Swift Transportation (NYSE:KNX - Free Report) had its price objective upped by Bank of America from $57.00 to $58.00 in a research report report published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the transportation company's stock.

KNX has been the topic of several other reports. Barclays raised their target price on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, August 20th. Evercore ISI raised their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an "in-line" rating in a research note on Thursday. Wolfe Research cut Knight-Swift Transportation from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 11th. Raymond James increased their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "strong-buy" rating in a report on Monday, October 14th. Finally, The Goldman Sachs Group dropped their price target on Knight-Swift Transportation from $48.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.88.

Knight-Swift Transportation Stock Performance

KNX stock traded down $0.80 during trading hours on Thursday, reaching $51.94. The stock had a trading volume of 3,793,221 shares, compared to its average volume of 2,070,448. The stock has a 50-day simple moving average of $52.27 and a 200 day simple moving average of $50.37. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The stock has a market capitalization of $8.41 billion, a PE ratio of 126.69, a price-to-earnings-growth ratio of 1.74 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.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm's revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.41 earnings per share. Analysts predict that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors 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 annualized dividend and a yield of 1.23%. Knight-Swift Transportation's payout ratio is currently 156.10%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the sale, the director now owns 17,648 shares in the company, valued at $892,459.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Michael Garnreiter sold 2,000 shares of the company's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the transaction, the director now directly owns 17,648 shares of the company's stock, valued at approximately $892,459.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Kevin P. Knight sold 30,000 shares of the business's stock in a transaction on 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 transaction, the chairman now directly owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 85,196 shares of company stock valued at $4,367,869. Company insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNX. 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 worth $1,230,000 after acquiring an additional 196 shares during the last quarter. United Services Automobile Association lifted its stake in Knight-Swift Transportation by 1.6% in the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company's stock worth $637,000 after purchasing an additional 199 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in Knight-Swift Transportation by 28.6% in 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 last quarter. MQS Management LLC raised its holdings in Knight-Swift Transportation by 3.7% during the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company's stock valued at $348,000 after buying an additional 250 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company's stock valued at $61,000 after purchasing an additional 302 shares during the last quarter. Hedge funds and other institutional investors 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.