Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, Bank of America Analyst Says

Knight-Swift Transportation (NYSE:KNX) had its target price increased by stock analysts at Bank of America from $61.00 to $63.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 14.83% from the stock’s current price.

KNX has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and increased their price objective for the stock from $48.00 to $67.00 in a report on Friday, January 3rd. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price on the stock. in a research note on Tuesday, November 12th. Morgan Stanley cut their price target on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Barclays boosted their price target on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.56.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $54.87 on Thursday. The stock has a market cap of $8.88 billion, a PE ratio of 238.55, a price-to-earnings-growth ratio of 0.95 and a beta of 0.98. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $55.39 and a 200-day simple moving average of $53.22.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. On average, sell-side analysts anticipate that Knight-Swift Transportation will post 1.04 EPS for the current fiscal year.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ploeg David Vander sold 500 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new position in Knight-Swift Transportation during the third quarter valued at about $70,185,000. Interval Partners LP grew its holdings in shares of Knight-Swift Transportation by 8,520.1% during the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock worth $64,547,000 after purchasing an additional 1,278,011 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Knight-Swift Transportation by 1,728.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock worth $66,440,000 after purchasing an additional 1,258,157 shares in the last quarter. Millennium Management LLC increased its position in shares of Knight-Swift Transportation by 309.7% during the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after purchasing an additional 807,572 shares during the period. Finally, Brandes Investment Partners LP acquired a new position in shares of Knight-Swift Transportation in the second quarter valued at $30,251,000. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.