Barclays Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $62.00

Knight-Swift Transportation (NYSE:KNX) had its price target dropped by equities researchers at Barclays from $68.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target indicates a potential upside of 41.05% from the stock’s current price.

A number of other research firms have also weighed in on KNX. TD Cowen increased their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Wells Fargo & Company dropped their target price on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Benchmark started coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. The Goldman Sachs Group lifted their price target on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Finally, Susquehanna reduced their price objective on Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating for the company in a research note on Wednesday, March 26th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.24.

Knight-Swift Transportation Trading Up 0.4 %

NYSE:KNX opened at $43.96 on Wednesday. The stock has a market cap of $7.12 billion, a price-to-earnings ratio of 60.07 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85. Knight-Swift Transportation has a 1 year low of $42.34 and a 1 year high of $61.51. The business has a fifty day moving average of $50.76 and a 200-day moving average of $53.03.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Equities analysts predict that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Insider Activity

In related news, Director Douglas L. Col acquired 5,000 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $226,850. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of large investors have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in Knight-Swift Transportation in the 3rd quarter worth approximately $70,185,000. Interval Partners LP raised its position in shares of Knight-Swift Transportation by 320.7% during the fourth quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company’s stock worth $93,076,000 after acquiring an additional 1,337,727 shares during the last quarter. Norges Bank acquired a new position in shares of Knight-Swift Transportation during the fourth quarter valued at $65,839,000. Junto Capital Management LP bought a new position in Knight-Swift Transportation in the fourth quarter valued at about $34,355,000. Finally, Ceredex Value Advisors LLC increased its position in Knight-Swift Transportation by 59.5% in the fourth quarter. Ceredex Value Advisors LLC now owns 1,435,562 shares of the transportation company’s stock worth $76,142,000 after purchasing an additional 535,518 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.