Knight-Swift Transportation (NYSE:KNX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Knight-Swift's growth policy on the back of mergers and acquisitions impresses us. In line with this, the company acquired Abilene Motor Express in March 2018. Also, Knight-Swift is being aided by solid demand for freight and volume growth. The company has been able to stablilize the Swift consolidated tractor fleet on the back of consistent efforts in the first half of the year. The company's earnings per share projection for the fourth quarter is also encouraging. However, Knight-Swift's high capital expenditures are concerning and might affect bottom line growth in the long term. Additionally, driver shortage and the subsequent constraint on truck count remain challenges for the company. Shares of the company have underperformed its industry in the past year.”
Several other equities research analysts have also recently weighed in on the stock. UBS Group reiterated a “neutral” rating and set a $36.00 price objective (down from $43.00) on shares of Knight-Swift Transportation in a research report on Tuesday. Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $46.00 to $48.00 in a research report on Thursday, November 8th. They noted that the move was a valuation call. ValuEngine upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Loop Capital increased their price objective on shares of Knight-Swift Transportation from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Robert W. Baird decreased their price objective on shares of Knight-Swift Transportation from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Knight-Swift Transportation has an average rating of “Buy” and a consensus price target of $47.53.
KNX stock opened at $30.71 on Wednesday. The firm has a market cap of $5.45 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.87 and a beta of 1.51. Knight-Swift Transportation has a 52-week low of $29.00 and a 52-week high of $51.94. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.12.
Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the prior year, the company posted $0.25 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 158.2% compared to the same quarter last year. On average, research analysts predict that Knight-Swift Transportation will post 2.36 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. Nissay Asset Management Corp Japan ADV grew its holdings in Knight-Swift Transportation by 13.8% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 12,613 shares of the transportation company’s stock worth $482,000 after purchasing an additional 1,529 shares during the period. Thrivent Financial for Lutherans grew its holdings in Knight-Swift Transportation by 5.9% in the third quarter. Thrivent Financial for Lutherans now owns 30,984 shares of the transportation company’s stock worth $1,068,000 after purchasing an additional 1,731 shares during the period. Arizona State Retirement System grew its holdings in Knight-Swift Transportation by 2.2% in the third quarter. Arizona State Retirement System now owns 91,055 shares of the transportation company’s stock worth $3,140,000 after purchasing an additional 1,918 shares during the period. First Mercantile Trust Co. grew its holdings in Knight-Swift Transportation by 13.9% in the third quarter. First Mercantile Trust Co. now owns 15,968 shares of the transportation company’s stock worth $551,000 after purchasing an additional 1,954 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Knight-Swift Transportation by 4.6% in the second quarter. GSA Capital Partners LLP now owns 47,955 shares of the transportation company’s stock worth $1,832,000 after purchasing an additional 2,120 shares during the period. Institutional investors and hedge funds own 80.94% of the company’s stock.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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