TD Cowen Raises Knight-Swift Transportation (NYSE:KNX) Price Target to $57.00

Knight-Swift Transportation (NYSE:KNX) had its price objective upped by TD Cowen from $47.00 to $57.00 in a report published on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the transportation company’s stock.

Several other equities analysts have also issued reports on KNX. Wolfe Research lowered Knight-Swift Transportation from an outperform rating to a peer perform rating in a research report on Thursday, July 11th. JPMorgan Chase & Co. decreased their price objective on shares of Knight-Swift Transportation from $55.00 to $51.00 and set a neutral rating on the stock in a research report on Tuesday, July 9th. Susquehanna dropped their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday, April 18th. Wells Fargo & Company began coverage on Knight-Swift Transportation in a research report on Friday, June 7th. They set an overweight rating and a $56.00 price target for the company. Finally, Bank of America boosted their target price on Knight-Swift Transportation from $54.00 to $55.00 and gave the company a buy rating in a research note on Monday, July 22nd. One equities 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $56.79.

Knight-Swift Transportation Price Performance

KNX stock opened at $51.25 on Thursday. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The stock has a market cap of $8.28 billion, a PE ratio of 76.49, a P/E/G ratio of 1.39 and a beta of 0.94. The firm has a 50 day simple moving average of $48.74 and a two-hundred day simple moving average of $52.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.93.

Knight-Swift Transportation (NYSE:KNX) last announced 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). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the company posted $0.49 EPS. Knight-Swift Transportation’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, analysts predict that Knight-Swift Transportation will post 1.16 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Monday, June 10th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Monday, June 10th. Knight-Swift Transportation’s payout ratio is 95.52%.

Institutional Trading of Knight-Swift Transportation

Institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC bought a new stake in shares of Knight-Swift Transportation in the first quarter worth $25,000. GAMMA Investing LLC grew its holdings in shares of Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares during the period. Versant Capital Management Inc grew its holdings in shares of Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after acquiring an additional 727 shares during the period. Blue Trust Inc. grew its holdings in shares of Knight-Swift Transportation by 80.3% in the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock worth $42,000 after acquiring an additional 326 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in shares of Knight-Swift Transportation by 61.7% in the fourth quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after acquiring an additional 283 shares during the period. Institutional investors own 88.77% of the company’s stock.

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.