Knight-Swift Transportation (NYSE:KNX) Given New $57.00 Price Target at JPMorgan Chase & Co.

Knight-Swift Transportation (NYSE:KNX) had its price objective increased by JPMorgan Chase & Co. from $51.00 to $57.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

KNX has been the topic of a number of other reports. Raymond James initiated coverage on shares of Knight-Swift Transportation in a report on Wednesday, May 15th. They set a strong-buy rating and a $58.00 price objective on the stock. Evercore ISI cut their price target on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. Wolfe Research downgraded shares of Knight-Swift Transportation from an outperform rating to a peer perform rating in a report on Thursday, July 11th. Susquehanna cut 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 report on Thursday, April 18th. Finally, Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They issued an overweight rating and a $56.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation currently has an average rating of Moderate Buy and an average price target of $56.79.

Knight-Swift Transportation Price Performance

KNX opened at $52.03 on Thursday. 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 company has a market capitalization of $8.41 billion, a price-to-earnings ratio of 77.66, a P/E/G ratio of 1.31 and a beta of 0.94. The firm’s fifty day moving average price is $48.70 and its two-hundred day moving average price is $52.16. Knight-Swift Transportation has a 1 year low of $45.55 and a 1 year high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. Knight-Swift Transportation’s revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, analysts anticipate that Knight-Swift Transportation will post 1.21 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

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

Institutional Trading of Knight-Swift Transportation

Institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new stake in shares of Knight-Swift Transportation during the first quarter valued at approximately $25,000. GAMMA Investing LLC boosted its stake in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares during the period. Versant Capital Management Inc boosted its stake in shares of Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares during the period. Blue Trust Inc. boosted its stake in shares of Knight-Swift Transportation by 80.3% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after purchasing an additional 326 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in shares of Knight-Swift Transportation by 61.7% during the fourth quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 283 shares during the period. Hedge funds and other institutional investors 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.