Bank of America Lowers Knight-Swift Transportation (NYSE:KNX) Price Target to $61.00

Knight-Swift Transportation (NYSE:KNX) had its target price lowered by equities researchers at Bank of America from $64.00 to $61.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would indicate a potential upside of 16.23% from the company’s current price.

KNX has been the subject of a number of other research reports. Citigroup lowered Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a research note on Tuesday, November 12th. Raymond James boosted their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Morgan Stanley cut their price objective on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI raised their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, seven have assigned 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.com, the company currently has an average rating of “Hold” and an average target price of $57.00.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock opened at $52.48 on Tuesday. The company has a market cap of $8.50 billion, a price-to-earnings ratio of 228.18, a price-to-earnings-growth ratio of 1.89 and a beta of 0.96. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50-day moving average is $55.18 and its 200-day moving average is $52.42.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company posted $0.41 earnings per share. Knight-Swift Transportation’s revenue was down 7.1% compared to the same quarter last year. Equities analysts anticipate that Knight-Swift Transportation will post 1.05 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the transaction, the director now directly owns 30,729 shares in the company, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several institutional investors have recently bought and sold shares of KNX. Blue Trust Inc. increased its stake in Knight-Swift Transportation by 168.3% during the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the period. Raymond James & Associates lifted its position in Knight-Swift Transportation by 126.5% in the second quarter. Raymond James & Associates now owns 74,138 shares of the transportation company’s stock worth $3,701,000 after purchasing an additional 41,409 shares during the period. Nisa Investment Advisors LLC boosted its stake in Knight-Swift Transportation by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,376 shares of the transportation company’s stock valued at $1,267,000 after purchasing an additional 325 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new position in shares of Knight-Swift Transportation during the 2nd quarter valued at $256,000. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of Knight-Swift Transportation by 3.6% in the second quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock valued at $81,729,000 after buying an additional 57,493 shares during the period. Institutional investors and hedge funds 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.