TD Cowen Raises Knight-Swift Transportation (NYSE:KNX) Price Target to $57.00

Knight-Swift Transportation (NYSE:KNX) had its price target lifted by TD Cowen from $47.00 to $57.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has a buy rating on the transportation company’s stock.

Several other brokerages also recently issued reports on KNX. UBS Group reduced their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a buy rating on the stock in a research note on Tuesday, July 9th. Stifel Nicolaus downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and cut their price target for the stock from $53.00 to $47.00 in a research note on Friday, April 26th. Robert W. Baird cut 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 research note on Thursday, April 25th. Loop Capital downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and cut their price target for the stock from $63.00 to $53.00 in a research note on Thursday, April 18th. Finally, Barclays cut their price target on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. One equities research 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $56.79.

Knight-Swift Transportation Trading Down 1.5 %

Shares of KNX opened at $51.25 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The firm’s 50-day moving average is $48.74 and its two-hundred day moving average is $52.05. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99. The firm has a market capitalization of $8.28 billion, a P/E ratio of 76.49, a PEG ratio of 1.39 and a beta of 0.94.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, research analysts predict that Knight-Swift Transportation will post 1.16 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared 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. This represents a $0.64 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, June 10th. Knight-Swift Transportation’s payout ratio is 95.52%.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after acquiring an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. grew its holdings in Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after acquiring an additional 57,000 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after acquiring an additional 3,767,408 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Knight-Swift Transportation by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock worth $180,101,000 after acquiring an additional 235,858 shares in the last quarter. Finally, Norges Bank acquired a new position in Knight-Swift Transportation during the 4th quarter worth $201,232,000. 88.77% of the stock is owned by institutional investors and hedge funds.

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.