Knight-Swift Transportation (NYSE:KNX) Given New $54.00 Price Target at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its price target decreased by equities researchers at Bank of America from $58.00 to $54.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 11.16% from the stock’s previous close.

KNX has been the subject of a number of other reports. Susquehanna decreased their price target on Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, March 25th. Stifel Nicolaus lifted their target price on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. TD Cowen reduced their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday. Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and reduced their target price for the stock from $63.00 to $53.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and an average price target of $60.31.

Knight-Swift Transportation Stock Down 4.3 %

KNX stock opened at $48.58 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $55.07 and a two-hundred day moving average price of $54.23. The company has a market cap of $7.85 billion, a price-to-earnings ratio of 36.53, a P/E/G ratio of 1.47 and a beta of 0.99. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. Analysts anticipate that Knight-Swift Transportation will post 2.3 EPS for the current fiscal year.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of Knight-Swift Transportation by 22.1% in the 1st quarter. Raymond James & Associates now owns 76,395 shares of the transportation company’s stock valued at $3,855,000 after buying an additional 13,808 shares during the last quarter. US Bancorp DE raised its stake in Knight-Swift Transportation by 57.6% during the 1st quarter. US Bancorp DE now owns 14,450 shares of the transportation company’s stock worth $729,000 after buying an additional 5,283 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in shares of Knight-Swift Transportation by 23.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company’s stock worth $706,000 after purchasing an additional 2,677 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Knight-Swift Transportation by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 211,351 shares of the transportation company’s stock worth $11,126,000 after purchasing an additional 7,824 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Knight-Swift Transportation by 6.7% in the first quarter. Sei Investments Co. now owns 141,380 shares of the transportation company’s stock worth $7,135,000 after purchasing an additional 8,923 shares during the last quarter. 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.