Raymond James Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price increased by Raymond James from $60.00 to $62.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the transportation company’s stock. Raymond James’ price objective suggests a potential upside of 18.71% from the company’s current price.

Several other analysts have also recently commented on the stock. Morgan Stanley reduced their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Bank of America decreased their price target on Knight-Swift Transportation from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI raised their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Stifel Nicolaus lifted their price objective on Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Barclays upped their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Knight-Swift Transportation Stock Performance

NYSE KNX traded down $1.60 on Friday, hitting $52.23. 396,210 shares of the company’s stock were exchanged, compared to its average volume of 1,525,129. The firm has a market cap of $8.46 billion, a price-to-earnings ratio of 227.10, a P/E/G ratio of 1.89 and a beta of 0.98. The firm’s 50-day moving average price is $55.52 and its two-hundred day moving average price is $52.99. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data 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 firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. Knight-Swift Transportation’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts expect that Knight-Swift Transportation will post 1.05 EPS for the current year.

Insider Activity at Knight-Swift Transportation

In other news, Director Ploeg David Vander sold 500 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the sale, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were 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. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

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