Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $60.00

Knight-Swift Transportation (NYSE:KNX) had its price target decreased by investment analysts at Stephens from $65.00 to $60.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Stephens’ price target would suggest a potential upside of 24.58% from the company’s previous close.

A number of other analysts have also commented on KNX. JPMorgan Chase & Co. decreased their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Susquehanna reduced 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. TD Cowen reduced their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Bank of America reduced their target price on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Loop Capital lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $63.00 to $53.00 in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.77.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $48.16 on Thursday. The firm has a market capitalization of $7.78 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. The firm has a fifty day simple moving average of $54.60 and a two-hundred day simple moving average of $54.18. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. Analysts forecast that Knight-Swift Transportation will post 2.3 EPS for the current fiscal year.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in the business. State of Michigan Retirement System lifted its holdings in Knight-Swift Transportation by 1.9% during the first quarter. State of Michigan Retirement System now owns 47,731 shares of the transportation company’s stock valued at $2,626,000 after purchasing an additional 900 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Knight-Swift Transportation by 10.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,371,944 shares of the transportation company’s stock valued at $185,524,000 after purchasing an additional 311,788 shares during the last quarter. Aviance Capital Partners LLC lifted its holdings in Knight-Swift Transportation by 1.3% during the first quarter. Aviance Capital Partners LLC now owns 99,098 shares of the transportation company’s stock valued at $5,452,000 after purchasing an additional 1,316 shares during the last quarter. Norris Perne & French LLP MI lifted its holdings in shares of Knight-Swift Transportation by 1.6% in the first quarter. Norris Perne & French LLP MI now owns 339,311 shares of the transportation company’s stock worth $18,669,000 after buying an additional 5,408 shares in the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Knight-Swift Transportation by 31.2% in the first quarter. Banque Cantonale Vaudoise now owns 25,320 shares of the transportation company’s stock worth $1,393,000 after buying an additional 6,015 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.