Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $52.00

Knight-Swift Transportation (NYSE:KNX) had its target price dropped by equities research analysts at TD Cowen from $58.00 to $52.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price objective points to a potential upside of 7.04% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus upped their target price on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Susquehanna lowered their target price on Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Monday, March 25th. Barclays lowered their target price on Knight-Swift Transportation from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 1st. JPMorgan Chase & Co. lowered their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 9th. Finally, Loop Capital cut Knight-Swift Transportation from a “buy” rating to a “hold” rating and lowered their target price for the stock from $63.00 to $53.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Knight-Swift Transportation has an average rating of “Moderate Buy” and an average price target of $61.31.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $48.58 on Thursday. The stock has a fifty day moving average price of $55.07 and a 200-day moving average price of $54.23. The company has a market cap of $7.85 billion, a price-to-earnings 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 quick ratio of 0.94 and a current ratio of 0.94. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. As a group, equities analysts anticipate that Knight-Swift Transportation will post 2.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its stake in shares of Knight-Swift Transportation by 8.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock valued at $131,000 after purchasing an additional 190 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Knight-Swift Transportation by 25.0% during the 3rd 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 purchasing an additional 200 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Knight-Swift Transportation by 2.9% during the 4th quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock valued at $416,000 after purchasing an additional 205 shares during the period. Private Advisor Group LLC raised its stake in shares of Knight-Swift Transportation by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock valued at $378,000 after purchasing an additional 207 shares during the period. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Knight-Swift Transportation by 0.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock valued at $2,310,000 after purchasing an additional 209 shares during the period. 88.77% of the stock is currently owned by institutional investors.

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.