Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $54.00

Knight-Swift Transportation (NYSE:KNX) had its price target dropped by stock analysts at Bank of America from $58.00 to $54.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would suggest a potential upside of 12.13% from the stock’s current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their price objective on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 9th. Stifel Nicolaus upped their price objective on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Susquehanna cut their price objective on Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating on the stock in a research report on Monday, March 25th. Loop Capital lowered Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their price objective for the stock from $63.00 to $53.00 in a research report on Thursday. Finally, Barclays dropped their target price on Knight-Swift Transportation from $65.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.77.

Knight-Swift Transportation Stock Up 0.6 %

Shares of NYSE KNX opened at $48.16 on Thursday. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.45 and a beta of 0.99. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a 52-week low of $45.73 and a 52-week high of $60.99. The business’s 50 day moving average is $54.60 and its two-hundred day moving average is $54.18.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Research analysts predict that Knight-Swift Transportation will post 2.2 EPS for the current year.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in shares of Knight-Swift Transportation by 908.9% during the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after buying an additional 3,767,408 shares during the period. Norges Bank acquired a new stake in shares of Knight-Swift Transportation during the fourth quarter worth about $201,232,000. Wellington Management Group LLP boosted its stake in shares of Knight-Swift Transportation by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after buying an additional 2,137,296 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Knight-Swift Transportation by 94.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after buying an additional 892,933 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Knight-Swift Transportation by 225.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after buying an additional 599,193 shares during the period. Institutional investors and hedge funds 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.