Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $50.00

Knight-Swift Transportation (NYSE:KNX) had its price objective cut by research analysts at Susquehanna from $59.00 to $50.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the transportation company’s stock. Susquehanna’s target price points to a potential upside of 2.92% from the stock’s current price.

KNX has been the topic of a number of other research reports. Barclays dropped their price objective on Knight-Swift Transportation from $65.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, April 1st. Stifel Nicolaus raised their price objective on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Bank of America lowered their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a report on Thursday. TD Cowen lowered their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a report on Thursday. Finally, Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and lowered their price target for the stock from $63.00 to $53.00 in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average target price of $59.62.

Knight-Swift Transportation Price Performance

Shares of KNX stock opened at $48.58 on Thursday. Knight-Swift Transportation has a 1-year low of $45.73 and a 1-year high of $60.99. The stock’s 50-day moving average is $55.07 and its 200 day moving average is $54.23. The company has a market cap of $7.85 billion, a P/E ratio of 36.53, a PEG ratio of 1.47 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last issued 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 net margin of 3.04% and a return on equity of 3.93%. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Research analysts predict that Knight-Swift Transportation will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors and hedge funds have recently modified their holdings of KNX. Northwestern Mutual Wealth Management Co. raised its position in Knight-Swift Transportation by 8.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 190 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Knight-Swift Transportation by 25.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 200 shares in the last quarter. Arkadios Wealth Advisors raised its position in Knight-Swift Transportation by 2.9% during the fourth quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock valued at $416,000 after acquiring an additional 205 shares in the last quarter. Private Advisor Group LLC raised its position in Knight-Swift Transportation by 2.8% during the third quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock valued at $378,000 after acquiring an additional 207 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Knight-Swift Transportation by 0.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock valued at $2,310,000 after acquiring an additional 209 shares in the last quarter. Institutional investors and hedge funds 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.