Robert W. Baird Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $60.00

Knight-Swift Transportation (NYSE:KNX) had its price target lowered by Robert W. Baird from $64.00 to $60.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the transportation company’s stock.

Several other research firms have also weighed in on KNX. Barclays cut their target price on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday, April 18th. TD Cowen cut their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a report on Thursday, April 18th. JPMorgan Chase & Co. dropped their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. Susquehanna dropped their price target on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating on the stock in a research note on Thursday, April 18th. Finally, Stifel Nicolaus dropped their target price on shares of Knight-Swift Transportation from $60.00 to $53.00 and set a buy rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $57.71.

Knight-Swift Transportation Stock Down 2.8 %

Shares of Knight-Swift Transportation stock opened at $47.14 on Thursday. 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 1 year low of $45.73 and a 1 year high of $60.99. The firm’s 50-day moving average is $53.72 and its two-hundred day moving average is $54.17. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 70.36, a PEG ratio of 2.48 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. As a group, research analysts expect that Knight-Swift Transportation will post 1.31 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.16 dividend. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.36%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 95.52%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Knight-Swift Transportation by 0.4% in the third quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock valued at $750,459,000 after acquiring an additional 54,133 shares during the period. Nordea Investment Management AB lifted its holdings in Knight-Swift Transportation by 4.5% in the third quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company’s stock valued at $62,950,000 after acquiring an additional 54,076 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Knight-Swift Transportation by 22.6% in the third quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company’s stock valued at $10,328,000 after acquiring an additional 37,934 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Knight-Swift Transportation by 3,637.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock valued at $10,701,000 after acquiring an additional 180,659 shares during the period. Finally, Comerica Bank acquired a new stake in Knight-Swift Transportation in the third quarter valued at $4,674,000. 88.77% of the stock is currently owned by hedge funds and other 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.