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7 Logistics Stocks That Could Soar if Ports Close - 6 of 7

 
 

#6 - KnightSwift Transportation (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE: KNX) provides freight transportation services in the United States and Mexico. Even without the port strike, the company is expected to be among the winners as interest rate cuts spur economic activity.  

If the port strike is fairly short-lived, as some analysts expect, then Knight-Swift may be an attractive turnaround play as retailers look to expedite shipments to make up for lost time. And if the strike lasts longer than expected, the full-service logistics company can provide its customers with warehousing and port services.  

KNX stock is down 6.2% in 2024, but it’s up 8.2% in the three months ending September 30. That has the stock trading at around the middle of its 52-week range, where it’s been for the past several years. Analysts have a consensus price target of $57 on KNX stock, but those targets may move higher after the company reports earnings on October 17.  

About Knight-Swift Transportation

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. Read More 
Current Price
$51.95
Consensus Rating
Moderate Buy
Ratings Breakdown
9 Buy Ratings, 7 Hold Ratings, 1 Sell Ratings.
Consensus Price Target
$57.00 (9.7% Upside)

 

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