Knight-Swift Transportation (NYSE:KNX) Given New $55.00 Price Target at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its target price boosted by Bank of America from $54.00 to $55.00 in a research report released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

KNX has been the topic of several other research reports. Susquehanna dropped their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating on the stock in a research report on Thursday, April 18th. Stephens lowered their price target on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a report on Thursday, April 18th. Raymond James started coverage on shares of Knight-Swift Transportation in a report on Wednesday, May 15th. They issued a strong-buy rating and a $58.00 price target on the stock. TD Cowen lowered their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Knight-Swift Transportation from $55.00 to $51.00 and set a neutral rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $56.79.

Knight-Swift Transportation Stock Performance

Shares of KNX opened at $52.03 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average of $48.70 and a 200-day moving average of $52.16. The company has a market cap of $8.41 billion, a PE ratio of 77.66, a P/E/G ratio of 1.32 and a beta of 0.94. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. On average, equities research analysts predict that Knight-Swift Transportation will post 1.21 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 95.52%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors grew its position 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in Knight-Swift Transportation by 0.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock worth $2,310,000 after acquiring an additional 209 shares in the last quarter. Yousif Capital Management LLC grew its position in Knight-Swift Transportation by 0.3% in the fourth quarter. Yousif Capital Management LLC now owns 77,858 shares of the transportation company’s stock worth $4,489,000 after acquiring an additional 212 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Knight-Swift Transportation by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 74,221 shares of the transportation company’s stock worth $4,139,000 after acquiring an additional 223 shares in the last quarter. Finally, Sompo Asset Management Co. Ltd. grew its position in Knight-Swift Transportation by 4.8% in the fourth quarter. Sompo Asset Management Co. Ltd. now owns 5,000 shares of the transportation company’s stock worth $288,000 after acquiring an additional 230 shares in the last quarter. 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.