Knight-Swift Transportation (NYSE:KNX) Given New $90.00 Price Target at Barclays

Knight-Swift Transportation (NYSE:KNX) had its price objective increased by stock analysts at Barclays from $75.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective points to a potential upside of 16.99% from the stock’s current price.

Other analysts have also issued research reports about the company. Weiss Ratings upgraded Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. UBS Group boosted their price target on Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Robert W. Baird upped their target price on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.53.

Knight-Swift Transportation Stock Performance

NYSE:KNX traded up $2.41 during trading hours on Thursday, reaching $76.93. The company had a trading volume of 3,958,280 shares, compared to its average volume of 3,738,441. Knight-Swift Transportation has a 52 week low of $38.63 and a 52 week high of $82.86. The firm’s 50 day moving average price is $70.44 and its 200-day moving average price is $61.47. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The firm has a market cap of $12.50 billion, a price-to-earnings ratio of 366.35, a PEG ratio of 0.94 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. Knight-Swift Transportation’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 earnings per share. On average, analysts forecast that Knight-Swift Transportation will post 2.14 EPS for the current year.

Institutional Trading of Knight-Swift Transportation

A number of institutional investors and hedge funds have recently bought and sold shares of KNX. Blue Trust Inc. raised its stake in shares of Knight-Swift Transportation by 123.9% during the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after purchasing an additional 301 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in Knight-Swift Transportation by 134.6% in the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Knight-Swift Transportation by 1,478.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 828 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter worth $39,000. Finally, Fifth Third Bancorp lifted its position in Knight-Swift Transportation by 44.4% during the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock valued at $45,000 after buying an additional 267 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.