Evercore ISI Lowers Knight-Swift Transportation (NYSE:KNX) Price Target to $55.00

Knight-Swift Transportation (NYSE:KNX) had its price target dropped by equities researchers at Evercore ISI from $60.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s target price points to a potential upside of 15.84% from the company’s previous close.

Several other research analysts also recently issued reports on the company. TD Cowen reduced their price objective on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Robert W. Baird reduced their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday. Stephens dropped their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Loop Capital lowered shares of 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, April 18th. Finally, Barclays cut their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating on the stock in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.14.

Knight-Swift Transportation Price Performance

Shares of KNX stock traded down $1.03 during trading hours on Thursday, hitting $47.48. 336,800 shares of the company’s stock were exchanged, compared to its average volume of 2,116,067. The stock’s 50-day moving average is $53.94 and its 200-day moving average is $54.22. 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 has a 52 week low of $45.73 and a 52 week high of $60.99. The stock has a market cap of $7.67 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the company earned $0.73 EPS. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Knight-Swift Transportation will post 1.31 EPS for the current year.

Insider Buying and Selling at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 bought and sold shares of KNX. Victory Capital Management Inc. raised its position in shares of Knight-Swift Transportation by 908.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after buying an additional 3,767,408 shares in the last quarter. Norges Bank bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth $201,232,000. Wellington Management Group LLP increased its position in shares of Knight-Swift Transportation by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after purchasing an additional 2,137,296 shares during the period. Balyasny Asset Management L.P. lifted its position in Knight-Swift Transportation by 225.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after purchasing an additional 599,193 shares during the period. Finally, Fiera Capital Corp increased its holdings in Knight-Swift Transportation by 4,385.6% in the 4th quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock valued at $22,563,000 after buying an additional 382,646 shares during the period. 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.