Knight-Swift Transportation (NYSE:KNX) Cut to “Peer Perform” at Wolfe Research

Wolfe Research downgraded shares of Knight-Swift Transportation (NYSE:KNX) from an outperform rating to a peer perform rating in a research note released on Thursday, Marketbeat reports.

KNX has been the subject of several other research reports. Loop Capital lowered shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their price target for the company from $63.00 to $53.00 in a research report on Thursday, April 18th. Susquehanna decreased their price target 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, April 18th. TD Cowen lowered their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, April 18th. Barclays reduced their price objective on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday, April 18th. Finally, Stifel Nicolaus lowered Knight-Swift Transportation from a buy rating to a hold rating and lowered their target price for the company from $53.00 to $47.00 in a research note on Friday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $56.00.

Knight-Swift Transportation Trading Up 0.7 %

NYSE:KNX opened at $49.88 on Thursday. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $60.99. The firm has a 50-day moving average price of $48.47 and a two-hundred day moving average price of $52.54. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 74.45, a price-to-earnings-growth ratio of 1.29 and a beta of 0.94.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the business posted $0.73 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Knight-Swift Transportation will post 1.23 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a dividend of $0.16 per share. The ex-dividend date was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 95.52%.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently added to or reduced their stakes in the business. Country Trust Bank increased its stake in Knight-Swift Transportation by 2.0% in the 2nd quarter. Country Trust Bank now owns 591,808 shares of the transportation company’s stock worth $29,543,000 after acquiring an additional 11,781 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Knight-Swift Transportation by 2.5% in the second quarter. Linden Thomas Advisory Services LLC now owns 19,936 shares of the transportation company’s stock worth $995,000 after purchasing an additional 481 shares during the last quarter. Versant Capital Management Inc raised its stake in Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares in the last quarter. DNB Asset Management AS lifted its position in Knight-Swift Transportation by 8.2% during the second quarter. DNB Asset Management AS now owns 28,299 shares of the transportation company’s stock valued at $1,413,000 after purchasing an additional 2,138 shares during the last quarter. Finally, Polianta Ltd grew its stake in Knight-Swift Transportation by 23.6% in the 2nd quarter. Polianta Ltd now owns 24,100 shares of the transportation company’s stock worth $1,203,000 after buying an additional 4,600 shares in the last quarter. 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.