Knight-Swift Transportation (NYSE:KNX) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Knight-Swift Transportation (NYSE:KNX) to a sell rating in a research report released on Thursday.

A number of other brokerages have also recently issued reports on KNX. Stifel Nicolaus cut shares of Knight-Swift Transportation from a buy rating to a hold rating and reduced their price objective for the stock from $53.00 to $47.00 in a research note on Friday, April 26th. Bank of America increased their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a buy rating in a research note on Monday. TD Cowen increased their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a buy rating in a research note on Thursday. UBS Group reduced their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a buy rating for the company in a research note on Tuesday, July 9th. Finally, Evercore ISI dropped their target price on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an in-line rating for the company in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of Moderate Buy and an average price target of $56.79.

Knight-Swift Transportation Stock Up 0.4 %

Shares of KNX stock opened at $52.28 on Thursday. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The stock has a market cap of $8.45 billion, a P/E ratio of 77.66, a P/E/G ratio of 1.31 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $48.70 and a two-hundred day simple moving average of $52.16.

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). The firm had revenue of $1.85 billion during 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%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the company earned $0.49 earnings per share. On average, research analysts expect that Knight-Swift Transportation will post 1.21 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a $0.16 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

Institutional Investors Weigh In On Knight-Swift Transportation

Several institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Knight-Swift Transportation by 15.7% in the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after acquiring an additional 2,137,296 shares during the last quarter. Vanguard Group Inc. increased its stake in Knight-Swift Transportation by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after buying an additional 57,000 shares during the period. Victory Capital Management Inc. increased its stake in Knight-Swift Transportation by 908.9% in the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after buying an additional 3,767,408 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Knight-Swift Transportation by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock worth $180,101,000 after buying an additional 235,858 shares during the period. Finally, Norges Bank purchased a new position in Knight-Swift Transportation in the 4th quarter worth about $201,232,000. 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.