Knight-Swift Transportation (NYSE:KNX) Raised to Strong-Buy at Zacks Research

Knight-Swift Transportation (NYSE:KNX) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

A number of other analysts also recently issued reports on KNX. Wells Fargo & Company raised their price objective on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price for the company in a research report on Tuesday, June 2nd. Benchmark raised their price target on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Stifel Nicolaus lifted their price target on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd. Finally, Robert W. Baird upped their price objective on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $73.53.

Knight-Swift Transportation Stock Down 0.7%

KNX stock opened at $77.30 on Tuesday. Knight-Swift Transportation has a 1-year low of $38.63 and a 1-year high of $82.86. The stock has a market cap of $12.56 billion, a P/E ratio of 368.13, a P/E/G ratio of 0.99 and a beta of 1.18. The stock’s fifty day simple moving average is $71.82 and its two-hundred day simple moving average is $62.39. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26.

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

Hedge Funds Weigh In On Knight-Swift Transportation

Several large investors have recently modified their holdings of KNX. Blue Trust Inc. lifted its stake in shares of Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after buying an additional 301 shares in the last quarter. Clearstead Advisors LLC grew its stake 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 buying an additional 385 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Knight-Swift Transportation by 1,478.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 828 shares during the period. Los Angeles Capital Management LLC bought a new stake in Knight-Swift Transportation during the 4th quarter valued at $39,000. Finally, Fifth Third Bancorp lifted its position in shares of Knight-Swift Transportation by 44.4% during the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after acquiring an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

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.