JPMorgan Chase & Co. Has Lowered Expectations for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price decreased by equities research analysts at JPMorgan Chase & Co. from $49.00 to $46.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 18.16% from the stock’s previous close.

A number of other analysts also recently weighed in on KNX. Stifel Nicolaus reduced their target price on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group lowered their price target on Knight-Swift Transportation from $55.00 to $45.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. Susquehanna cut their price target on shares of Knight-Swift Transportation from $54.00 to $45.00 and set a “positive” rating on the stock in a report on Thursday. Raymond James decreased their price target on Knight-Swift Transportation from $66.00 to $55.00 and set a “strong-buy” rating for the company in a research note on Friday, April 11th. Finally, StockNews.com upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.60.

Knight-Swift Transportation Price Performance

KNX opened at $38.93 on Thursday. The stock’s 50 day moving average price is $44.40 and its 200-day moving average price is $51.31. Knight-Swift Transportation has a 52-week low of $36.69 and a 52-week high of $61.51. The stock has a market capitalization of $6.31 billion, a PE ratio of 53.33 and a beta of 1.16. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. On average, equities research analysts predict that Knight-Swift Transportation will post 2.13 EPS for the current year.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col bought 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average price of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds have recently made changes to their positions in KNX. Franklin Resources Inc. purchased a new position in Knight-Swift Transportation in the 3rd quarter worth approximately $70,185,000. Interval Partners LP grew its holdings in Knight-Swift Transportation by 320.7% during the 4th quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company’s stock valued at $93,076,000 after buying an additional 1,337,727 shares in the last quarter. Norges Bank bought a new stake in Knight-Swift Transportation in the 4th quarter worth approximately $65,839,000. SG Americas Securities LLC raised its holdings in shares of Knight-Swift Transportation by 54,434.0% during the 1st quarter. SG Americas Securities LLC now owns 1,103,768 shares of the transportation company’s stock worth $48,003,000 after acquiring an additional 1,101,744 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in shares of Knight-Swift Transportation during the 4th quarter valued at approximately $34,355,000. Institutional investors own 88.77% of the company’s stock.

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.