Bank of America Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its price target upped by Bank of America from $61.00 to $63.00 in a research report report published on Thursday,Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Other analysts also recently issued research reports about the company. Stifel Nicolaus lifted their target price on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Citigroup lowered Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target on the stock. in a report on Tuesday, November 12th. Raymond James upped their price objective on shares of Knight-Swift Transportation from $60.00 to $62.00 and gave the stock a “strong-buy” rating in a report on Friday, January 10th. The Goldman Sachs Group raised their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Morgan Stanley dropped their price target on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $58.56.

Knight-Swift Transportation Stock Up 1.0 %

Knight-Swift Transportation stock opened at $56.36 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The company has a 50-day simple moving average of $55.51 and a 200-day simple moving average of $53.17. The firm has a market capitalization of $9.12 billion, a P/E ratio of 245.07, a P/E/G ratio of 0.95 and a beta of 0.98.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, equities analysts expect that Knight-Swift Transportation will post 1.04 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is presently 278.27%.

Insider Transactions at Knight-Swift Transportation

In related news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation 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 transaction, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated 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 owned by insiders.

Institutional Trading of Knight-Swift Transportation

Several large investors have recently added to or reduced their stakes in KNX. Acadian Asset Management LLC purchased a new position in shares of Knight-Swift Transportation during the second quarter valued at $91,000. DekaBank Deutsche Girozentrale grew its stake in Knight-Swift Transportation by 284.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 71,822 shares of the transportation company’s stock valued at $3,479,000 after acquiring an additional 53,156 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Knight-Swift Transportation by 66.1% during the second quarter. Renaissance Technologies LLC now owns 86,727 shares of the transportation company’s stock worth $4,329,000 after purchasing an additional 34,500 shares during the period. Finally, Primecap Management Co. CA grew its position in Knight-Swift Transportation by 7.3% during the second quarter. Primecap Management Co. CA now owns 183,200 shares of the transportation company’s stock valued at $9,145,000 after purchasing an additional 12,500 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.