JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Knight-Swift Transportation (NYSE:KNX) Stock

Knight-Swift Transportation (NYSE:KNX) had its target price upped by stock analysts at JPMorgan Chase & Co. from $70.00 to $77.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.75% from the company’s current price.

A number of other equities research analysts have also commented on the company. TD Cowen raised their price objective on Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Benchmark upped their price objective on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Research raised Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 30th. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price objective on the stock in a research report on Tuesday, June 2nd. Finally, Morgan Stanley boosted their price objective on shares of Knight-Swift Transportation from $70.00 to $100.00 and gave the company an “overweight” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $79.00.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX traded down $1.50 during trading on Friday, reaching $75.67. The company had a trading volume of 1,385,505 shares, compared to its average volume of 3,678,533. The firm’s fifty day moving average is $73.11 and its 200 day moving average is $63.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market capitalization of $12.30 billion, a PE ratio of 360.82, a price-to-earnings-growth ratio of 0.94 and a beta of 1.18. Knight-Swift Transportation has a twelve month low of $38.63 and a twelve month high of $82.86.

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 analysts’ consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company posted $0.28 earnings per share. Knight-Swift Transportation’s revenue was up 1.4% compared to the same quarter last year. On average, equities analysts forecast that Knight-Swift Transportation will post 2.18 EPS for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of institutional investors have recently added to or reduced their stakes in KNX. Wellington Management Group LLP lifted its position in shares of Knight-Swift Transportation by 23.6% in the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock worth $675,380,000 after purchasing an additional 2,468,293 shares during the period. Invesco Ltd. increased its position in shares of Knight-Swift Transportation by 513.6% during the fourth quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock valued at $126,354,000 after acquiring an additional 2,022,996 shares during the last quarter. Norges Bank bought a new stake in Knight-Swift Transportation in the fourth quarter worth about $92,070,000. Balyasny Asset Management L.P. grew its stake in shares of Knight-Swift Transportation by 269.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock worth $88,164,000 after acquiring an additional 1,627,791 shares during the period. Finally, Junto Capital Management LP lifted its stake in shares of Knight-Swift Transportation by 252.4% during the 3rd quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock valued at $89,377,000 after buying an additional 1,620,224 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.