The Goldman Sachs Group Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $44.00

Knight-Swift Transportation (NYSE:KNX) had its target price cut by equities research analysts at The Goldman Sachs Group from $48.00 to $44.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 14.43% from the stock’s current price.

Several other equities analysts also recently issued reports on KNX. Susquehanna lifted their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their price objective on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Barclays lifted their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Bank of America lifted their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, TD Cowen lifted their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX traded down $0.30 during midday trading on Wednesday, reaching $51.42. 610,929 shares of the company’s stock were exchanged, compared to its average volume of 2,055,366. The company’s 50 day simple moving average is $52.33 and its two-hundred day simple moving average is $50.50. The firm has a market capitalization of $8.32 billion, a PE ratio of 76.75, a price-to-earnings-growth ratio of 1.38 and a beta of 0.92. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the business posted $0.49 earnings per share. Knight-Swift Transportation’s revenue was up 18.9% on a year-over-year basis. Equities research analysts expect that Knight-Swift Transportation will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total transaction of $304,679.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, the chairman now directly owns 1,422,360 shares in the company, valued at $73,294,210.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,196 shares of company stock worth $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Several hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its stake in shares of Knight-Swift Transportation by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock valued at $1,230,000 after purchasing an additional 196 shares during the period. United Services Automobile Association raised its stake in shares of Knight-Swift Transportation by 1.6% in the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after purchasing an additional 199 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares during the period. MQS Management LLC raised its stake in shares of Knight-Swift Transportation by 3.7% in the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock valued at $348,000 after purchasing an additional 250 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 253 shares during the last quarter. 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.