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

Knight-Swift Transportation (NYSE:KNX) had its price objective boosted by TD Cowen from $47.00 to $57.00 in a report issued on Thursday morning, Marketbeat reports. TD Cowen currently has a buy rating on the transportation company’s stock.

KNX has been the topic of several other reports. Stephens reduced their price objective on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating on the stock in a research note on Thursday, April 18th. Robert W. Baird reduced their price target on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered their price objective on shares of Knight-Swift Transportation from $55.00 to $51.00 and set a neutral rating for the company in a research report on Tuesday, July 9th. Wells Fargo & Company started coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They issued an overweight rating and a $56.00 target price on the stock. Finally, Bank of America increased their price target on Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a buy rating in a research report on Monday, July 22nd. One equities 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’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Stock Down 1.5 %

KNX stock opened at $51.25 on Thursday. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99. The company has a current ratio of 0.88, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $8.28 billion, a P/E ratio of 76.49, a PEG ratio of 1.39 and a beta of 0.94. The firm has a 50 day simple moving average of $48.74 and a 200-day simple moving average of $52.08.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that Knight-Swift Transportation will post 1.16 earnings per share 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. Stockholders of record on Monday, June 10th were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.25%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Institutional Trading of Knight-Swift Transportation

Hedge funds have recently made changes to their positions in the stock. 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 valued at $241,086,000 after buying an additional 3,767,408 shares during the period. Norges Bank acquired a new stake in Knight-Swift Transportation during the fourth quarter valued at $201,232,000. Wellington Management Group LLP grew its stake in Knight-Swift Transportation by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after purchasing an additional 2,137,296 shares in the last quarter. Balyasny Asset Management L.P. increased its position in Knight-Swift Transportation by 225.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after purchasing an additional 599,193 shares during the last quarter. Finally, Fiera Capital Corp raised its stake in shares of Knight-Swift Transportation by 4,385.6% during the 4th quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock worth $22,563,000 after purchasing an additional 382,646 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.