Knight-Swift Transportation (NYSE:KNX) Given New $62.00 Price Target at Raymond James

Knight-Swift Transportation (NYSE:KNX) had its price objective upped by Raymond James from $60.00 to $62.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a strong-buy rating on the transportation company’s stock.

KNX has been the topic of a number of other research reports. Barclays increased their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock 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 on the stock. in a research report on Tuesday, November 12th. Evercore ISI upped their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Bank of America cut their target price on Knight-Swift Transportation from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, December 17th. Two analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.44.

Knight-Swift Transportation Trading Down 2.7 %

Knight-Swift Transportation stock opened at $52.38 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The stock has a market cap of $8.48 billion, a P/E ratio of 227.75, a PEG ratio of 1.89 and a beta of 0.98. The firm’s fifty day moving average price is $55.50 and its 200-day moving average price is $53.01.

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

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Knight-Swift Transportation’s dividend payout ratio is presently 278.26%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNX. Commonwealth Equity Services LLC grew its position in shares of Knight-Swift Transportation by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock worth $1,230,000 after buying an additional 196 shares during the period. Brown Brothers Harriman & Co. grew its holdings in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares during the period. GAMMA Investing LLC increased its stake in shares of Knight-Swift Transportation by 18.5% during the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 208 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Knight-Swift Transportation by 4.6% during the third quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock valued at $280,000 after purchasing an additional 228 shares during the last quarter. Finally, MQS Management LLC boosted its position in shares of Knight-Swift Transportation by 3.7% in the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after purchasing an additional 250 shares in the last quarter. 88.77% of the stock is 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.