Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $93.00

Knight-Swift Transportation (NYSE:KNX) had its price target increased by Susquehanna from $85.00 to $93.00 in a report released on Monday,Benzinga reports. They currently have a positive rating on the transportation company’s stock.

Several other brokerages also recently weighed in on KNX. Raymond James Financial restated a “strong-buy” rating and set a $84.00 target price on shares of Knight-Swift Transportation in a research note on Thursday, October 22nd. Wells Fargo & Company cut their price target on Knight-Swift Transportation from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, October 22nd. UBS Group reissued a “buy” rating on shares of Knight-Swift Transportation in a report on Thursday, October 22nd. Stephens upgraded Knight-Swift Transportation to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Knight-Swift Transportation in a report on Friday, October 9th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.22.

Knight-Swift Transportation Stock Down 3.6%

NYSE KNX opened at $60.77 on Monday. The stock has a market cap of $9.89 billion, a PE ratio of 65.35, a P/E/G ratio of 0.48 and a beta of 1.21. Knight-Swift Transportation has a fifty-two week low of $41.24 and a fifty-two week high of $82.86. The business has a 50 day moving average price of $66.14 and a two-hundred day moving average price of $65.90. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, October 21st. The transportation company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.16 billion. Knight-Swift Transportation had a net margin of 1.92% and a return on equity of 4.71%. Knight-Swift Transportation’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the company earned $0.32 earnings per share. As a group, sell-side analysts predict that Knight-Swift Transportation will post 2.45 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, September 4th. This represents a $0.80 annualized dividend and a yield of 1.3%. Knight-Swift Transportation’s dividend payout ratio is presently 86.02%.

Insiders Place Their Bets

In other news, Director David Vander Ploeg sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total value of $115,126.00. Following the completion of the sale, the director directly owned 30,252 shares in the company, valued at approximately $1,583,087.16. The trade was a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Cary M. Flanagan sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $70.82, for a total value of $254,952.00. Following the completion of the sale, the chief accounting officer owned 5,405 shares of the company’s stock, valued at $382,782.10. This trade represents a 39.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 224,954 shares of company stock valued at $16,183,454 in the last quarter. Insiders own 2.90% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in the business. Glenview Trust Co bought a new position in Knight-Swift Transportation in the third quarter worth about $5,521,000. Parcion Private Wealth LLC grew its holdings in shares of Knight-Swift Transportation by 23.3% during the third quarter. Parcion Private Wealth LLC now owns 4,370 shares of the transportation company’s stock valued at $278,000 after purchasing an additional 825 shares during the last quarter. Soltis Investment Advisors LLC bought a new position in shares of Knight-Swift Transportation during the third quarter valued at approximately $207,000. North Dakota State Investment Board grew its holdings in shares of Knight-Swift Transportation by 3.4% during the third quarter. North Dakota State Investment Board now owns 4,842 shares of the transportation company’s stock valued at $308,000 after purchasing an additional 160 shares during the last quarter. Finally, VestGen Advisors LLC raised its position in shares of Knight-Swift Transportation by 6.1% during the 3rd quarter. VestGen Advisors LLC now owns 4,764 shares of the transportation company’s stock worth $303,000 after purchasing an additional 274 shares during the period. Institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.