Wells Fargo & Company Issues Pessimistic Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price dropped by research analysts at Wells Fargo & Company from $65.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 26.31% from the company’s current price.

Several other research analysts have also recently weighed in on KNX. StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Citigroup upgraded shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Monday, March 10th. The Goldman Sachs Group boosted their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Raymond James raised their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Bank of America upped their price target on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average price target of $58.59.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX opened at $43.54 on Thursday. The stock has a market cap of $7.05 billion, a P/E ratio of 59.65 and a beta of 0.97. The firm’s 50-day simple moving average is $51.22 and its 200 day simple moving average is $53.12. Knight-Swift Transportation has a fifty-two week low of $42.72 and a fifty-two week 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.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping 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.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $226,850. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently made changes to their positions in KNX. Parkside Financial Bank & Trust increased its holdings in Knight-Swift Transportation by 88.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after buying an additional 322 shares during the last quarter. UMB Bank n.a. grew its position in Knight-Swift Transportation by 84.3% in the fourth quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock worth $43,000 after acquiring an additional 370 shares in the last quarter. Quarry LP increased its stake in shares of Knight-Swift Transportation by 71.1% during the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock worth $65,000 after purchasing an additional 499 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Knight-Swift Transportation by 20.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after purchasing an additional 213 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after purchasing an additional 208 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.