Wells Fargo & Company Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price raised by stock analysts at Wells Fargo & Company from $65.00 to $86.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.52% from the company’s current price.

KNX has been the subject of a number of other reports. UBS Group raised their price objective on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research note on Monday. Evercore upgraded shares of Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a report on Friday, March 27th. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Friday, March 13th. Stifel Nicolaus upped their price objective on Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Benchmark increased their target price on Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.19.

Knight-Swift Transportation Trading Down 0.1%

NYSE KNX opened at $78.53 on Friday. Knight-Swift Transportation has a 12 month low of $38.63 and a 12 month high of $79.10. The stock has a market cap of $12.76 billion, a P/E ratio of 374.52, a P/E/G ratio of 1.00 and a beta of 1.18. The stock’s fifty day moving average price is $65.19 and its 200-day moving average price is $58.31. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. Knight-Swift Transportation’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.28 earnings per share. As a group, equities analysts forecast that Knight-Swift Transportation will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of institutional investors have recently bought and sold shares of KNX. Blue Trust Inc. grew its stake in shares of Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 301 shares during the period. Clearstead Advisors LLC raised its stake in Knight-Swift Transportation by 134.6% during the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock worth $35,000 after acquiring an additional 385 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 828 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth approximately $39,000. Finally, MMA Asset Management LLC bought a new position in shares of Knight-Swift Transportation in the third quarter worth approximately $41,000. 88.77% of the stock is owned by institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.