Knight-Swift Transportation (NYSE:KNX) PT Raised to $55.00

Knight-Swift Transportation (NYSE:KNX) had its target price lifted by Bank of America from $54.00 to $55.00 in a report released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

A number of other analysts also recently issued reports on the stock. Raymond James started coverage on shares of Knight-Swift Transportation in a report on Wednesday, May 15th. They issued a strong-buy rating and a $58.00 price target on the stock. Robert W. Baird reduced their price target on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their price target for the company from $53.00 to $47.00 in a report on Friday, April 26th. UBS Group reduced 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 report on Tuesday, July 9th. Finally, Wells Fargo & Company started coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They issued an overweight rating and a $56.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Stock Up 6.2 %

Shares of KNX stock opened at $52.03 on Monday. The company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 77.66, a PEG ratio of 1.32 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. The company’s fifty day moving average price is $48.70 and its 200-day moving average price is $52.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Sell-side analysts expect that Knight-Swift Transportation will post 1.21 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

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

Hedge Funds Weigh In On Knight-Swift Transportation

A number of large investors have recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Knight-Swift Transportation during the 1st quarter valued at about $25,000. GAMMA Investing LLC raised its stake in shares of Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares in the last quarter. Versant Capital Management Inc grew its position in Knight-Swift Transportation by 3,461.9% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the last quarter. Blue Trust Inc. grew its position in Knight-Swift Transportation by 80.3% during the 4th quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock worth $42,000 after purchasing an additional 326 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in Knight-Swift Transportation by 61.7% during the 4th quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after purchasing an additional 283 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.