Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $61.00 at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its price objective cut by Bank of America from $64.00 to $61.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other equities analysts have also recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Barclays raised their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target for the company. in a report on Tuesday, November 12th. Susquehanna raised their price objective on Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, TD Cowen upped their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $57.00.

Knight-Swift Transportation Trading Down 1.8 %

NYSE KNX opened at $53.93 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99. The business has a 50 day moving average price of $55.15 and a 200-day moving average price of $52.42. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 234.49, a P/E/G ratio of 1.89 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the business posted $0.41 EPS. Knight-Swift Transportation’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, equities analysts expect that Knight-Swift Transportation will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total value of $1,703,061.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ploeg David Vander sold 500 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares in the last quarter. Raymond James & Associates grew its stake in Knight-Swift Transportation by 126.5% during the second quarter. Raymond James & Associates now owns 74,138 shares of the transportation company’s stock valued at $3,701,000 after acquiring an additional 41,409 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Knight-Swift Transportation by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,376 shares of the transportation company’s stock worth $1,267,000 after acquiring an additional 325 shares during the period. Fifth Third Wealth Advisors LLC purchased a new stake in Knight-Swift Transportation in the 2nd quarter worth approximately $256,000. Finally, Ceredex Value Advisors LLC boosted its holdings in Knight-Swift Transportation by 3.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock valued at $81,729,000 after purchasing an additional 57,493 shares during the period. 88.77% of the stock is currently 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.