Wells Fargo & Company Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $55.00

Knight-Swift Transportation (NYSE:KNX - Free Report) had its price objective reduced by Wells Fargo & Company from $65.00 to $55.00 in a research note published on Thursday,Benzinga reports. They currently have an overweight rating on the transportation company's stock.

A number of other analysts have also weighed in on KNX. Citigroup raised shares of Knight-Swift Transportation from a "sell" rating to a "neutral" rating and set a $53.00 target price on the stock in a report on Monday, March 10th. Susquehanna decreased their price target on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a "positive" rating on the stock in a report on Wednesday, March 26th. 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 research note on Thursday, January 23rd. Bank of America boosted their target price on Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Finally, Raymond James raised their price target on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a "strong-buy" rating in a report on Thursday, January 23rd. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $58.59.

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Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock traded down $0.37 during trading hours on Thursday, reaching $43.18. The company had a trading volume of 737,158 shares, compared to its average volume of 2,205,112. The firm has a market cap of $6.99 billion, a PE ratio of 59.18 and a beta of 0.97. Knight-Swift Transportation has a one year low of $42.51 and a one year high of $61.51. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. The business has a fifty day simple moving average of $51.22 and a 200 day simple moving average of $53.16.

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

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Friday, March 7th. This is a boost from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 98.63%.

Insiders Place Their Bets

In related news, Director Douglas L. Col acquired 5,000 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Knight-Swift Transportation by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company's stock valued at $61,878,000 after buying an additional 26,346 shares during the period. Stanley Laman Group Ltd. purchased a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $3,021,000. Jane Street Group LLC boosted its holdings in shares of Knight-Swift Transportation by 30.9% during the third quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company's stock worth $3,771,000 after purchasing an additional 16,500 shares during the period. Paloma Partners Management Co grew its stake in shares of Knight-Swift Transportation by 681.6% in the third quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company's stock worth $3,237,000 after purchasing an additional 52,323 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Knight-Swift Transportation by 116.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company's stock valued at $7,056,000 after purchasing an additional 70,276 shares during the period. 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.