Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Receives $57.00 Consensus Target Price from Brokerages

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, nine have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $58.19.

Several brokerages have recently issued reports on KNX. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and raised their target price for the company from $48.00 to $67.00 in a research note on Friday, January 3rd. Barclays raised their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Raymond James upped their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group raised their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Finally, TD Cowen upped their price objective on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Knight-Swift Transportation Stock Up 0.7 %

NYSE:KNX opened at $53.94 on Thursday. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 234.53, a P/E/G ratio of 1.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s fifty day moving average price is $55.48 and its two-hundred day moving average price is $52.98. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99.

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

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were given a $0.16 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.19%. Knight-Swift Transportation’s dividend payout ratio is currently 278.26%.

Insider Buying and Selling

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

Hedge Funds Weigh In On Knight-Swift Transportation

A number of institutional investors have recently modified their holdings of KNX. Deseret Mutual Benefit Administrators grew its position in Knight-Swift Transportation by 87.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares during the last quarter. GAMMA Investing LLC increased its position in Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock worth $61,000 after purchasing an additional 302 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock valued at $62,000 after purchasing an additional 292 shares during the last quarter. Finally, Quarry LP boosted its position in Knight-Swift Transportation by 71.1% in the third quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after buying an additional 499 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.