Knight-Swift Transportation (NYSE:KNX) Given New $66.00 Price Target at Raymond James

Knight-Swift Transportation (NYSE:KNX) had its price target raised by Raymond James from $62.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a strong-buy rating on the transportation company’s stock.

Several other brokerages have also weighed in on KNX. Bank of America increased their price objective on Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. The Goldman Sachs Group increased their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Morgan Stanley reduced their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays increased their target price on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Finally, Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and boosted their price target for the company from $48.00 to $67.00 in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $59.38.

Knight-Swift Transportation Stock Up 4.6 %

NYSE KNX opened at $57.54 on Thursday. The business’s fifty day simple moving average is $55.24 and its 200-day simple moving average is $53.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.32 billion, a PE ratio of 78.82, a P/E/G ratio of 1.02 and a beta of 0.98. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $61.51.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. As a group, equities analysts anticipate that Knight-Swift Transportation will post 2.11 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were issued a $0.16 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.11%. Knight-Swift Transportation’s payout ratio is 87.67%.

Insider Activity at Knight-Swift Transportation

In related news, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Knight-Swift Transportation

Institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators lifted its position in shares of Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 348 shares during the period. UMB Bank n.a. increased its stake in Knight-Swift Transportation by 84.3% in the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 370 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 302 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Knight-Swift Transportation by 34.2% in the 3rd 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 in the last quarter. Finally, Quarry LP increased its holdings 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 in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.