Knight-Swift Transportation (NYSE:KNX) Stock Rating Lowered by Bank of America

Knight-Swift Transportation (NYSE:KNX) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They presently have a $46.00 price objective on the transportation company’s stock, down from their prior price objective of $66.00. Bank of America‘s price target would suggest a potential upside of 5.70% from the stock’s current price.

A number of other research firms have also issued reports on KNX. Wells Fargo & Company decreased their price objective on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Benchmark assumed coverage on shares of Knight-Swift Transportation in a report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target on the stock. TD Cowen boosted their price objective on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. StockNews.com upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Citigroup upgraded shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price target for the company in a research report on Monday, March 10th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.59.

Knight-Swift Transportation Price Performance

KNX opened at $43.52 on Tuesday. The firm has a 50-day moving average price of $50.99 and a 200-day moving average price of $53.10. Knight-Swift Transportation has a twelve month low of $42.47 and a twelve month high of $61.51. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of 59.62 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating 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%. Equities analysts expect that Knight-Swift Transportation will post 2.13 EPS for the current year.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Douglas L. Col purchased 5,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. This represents a ? increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in Knight-Swift Transportation in the fourth quarter valued at approximately $240,000. Siemens Fonds Invest GmbH purchased a new position in shares of Knight-Swift Transportation in the fourth quarter worth $497,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Knight-Swift Transportation during the 4th quarter valued at $2,796,000. Toronto Dominion Bank boosted its position in Knight-Swift Transportation by 3.7% during the 4th quarter. Toronto Dominion Bank now owns 21,143 shares of the transportation company’s stock valued at $1,121,000 after buying an additional 759 shares during the period. Finally, Castleark Management LLC bought a new stake in Knight-Swift Transportation in the 4th quarter worth $247,000. Institutional investors 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.