JPMorgan Chase & Co. Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $57.00

Knight-Swift Transportation (NYSE:KNX) had its price objective boosted by JPMorgan Chase & Co. from $51.00 to $57.00 in a research note issued to investors on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

A number of other analysts have also recently issued reports on KNX. Barclays decreased their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a research report on Thursday, April 18th. Stephens cut their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a research note on Thursday, April 18th. Wolfe Research downgraded Knight-Swift Transportation from an outperform rating to a peer perform rating in a research note on Thursday, July 11th. Raymond James assumed coverage on Knight-Swift Transportation in a report on Wednesday, May 15th. They set a strong-buy rating and a $58.00 target price on the stock. Finally, Evercore ISI decreased their price objective on Knight-Swift Transportation from $55.00 to $53.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $52.03 on Thursday. The stock has a 50 day moving average price of $48.70 and a 200 day moving average price of $52.16. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $8.41 billion, a PE ratio of 77.66, a P/E/G ratio of 1.31 and a beta of 0.94. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 earnings per share. Equities research analysts expect that Knight-Swift Transportation will post 1.21 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were issued a dividend of $0.16 per share. The ex-dividend date was Monday, June 10th. This represents a $0.64 annualized dividend and a yield of 1.23%. Knight-Swift Transportation’s payout ratio is 95.52%.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in Knight-Swift Transportation by 583.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 33,165 shares of the transportation company’s stock worth $1,912,000 after purchasing an additional 28,309 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Knight-Swift Transportation by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Knight-Swift Transportation by 3.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,058,952 shares of the transportation company’s stock valued at $61,049,000 after buying an additional 35,549 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Knight-Swift Transportation by 63.8% in the fourth quarter. V Square Quantitative Management LLC now owns 1,697 shares of the transportation company’s stock valued at $98,000 after buying an additional 661 shares in the last quarter. Finally, Duality Advisers LP increased its holdings in shares of Knight-Swift Transportation by 1,686.4% in the first quarter. Duality Advisers LP now owns 66,098 shares of the transportation company’s stock valued at $3,637,000 after buying an additional 62,398 shares in the last quarter. 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.