Brokerages Set Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Price Target at $56.79

Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) have received an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $56.79.

Several research firms recently weighed in on KNX. Bank of America raised their target price on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Stephens cut their target price on shares of 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. Susquehanna cut their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Evercore ISI cut their target price on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th.

Insider Transactions at Knight-Swift Transportation

In other news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,696 shares of company stock worth $4,133,429. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in Knight-Swift Transportation during the 1st quarter valued at about $25,000. GAMMA Investing LLC lifted its holdings in Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after buying an additional 253 shares in the last quarter. Versant Capital Management Inc increased 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 valued at $37,000 after purchasing an additional 727 shares during the period. Blue Trust Inc. raised its holdings in shares of Knight-Swift Transportation by 80.3% in the 4th quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 326 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Knight-Swift Transportation by 61.7% in the 4th quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 283 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $51.14 on Monday. The firm has a fifty day moving average price of $49.74 and a 200-day moving average price of $51.84. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $8.26 billion, a PE ratio of 76.33, a price-to-earnings-growth ratio of 1.41 and a beta of 0.93. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted 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). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 earnings per share. Equities analysts anticipate that Knight-Swift Transportation will post 1.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

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.