Knight-Swift Transportation (NYSE:KNX) Upgraded to Strong-Buy at Stephens

Stephens upgraded shares of Knight-Swift Transportation (NYSE:KNX) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the company. Robert W. Baird increased their target price on Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. UBS Group upped their price target on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Zacks Research upgraded Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Stifel Nicolaus lifted their price objective on Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price on the stock in a research note on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Knight-Swift Transportation has an average rating of “Buy” and a consensus price target of $77.18.

Knight-Swift Transportation Stock Up 1.0%

KNX opened at $75.08 on Wednesday. Knight-Swift Transportation has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The company has a market capitalization of $12.20 billion, a P/E ratio of 357.53, a P/E/G ratio of 0.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s fifty day moving average price is $72.87 and its two-hundred day moving average price is $63.18.

Knight-Swift Transportation (NYSE:KNX) last issued 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). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter last year, the firm posted $0.28 earnings per share. Knight-Swift Transportation’s revenue was up 1.4% on a year-over-year basis. On average, analysts anticipate that Knight-Swift Transportation will post 2.2 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Monday, June 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date was Monday, June 8th. Knight-Swift Transportation’s payout ratio is 380.95%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its position in shares of Knight-Swift Transportation by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 5,183 shares of the transportation company’s stock worth $298,000 after acquiring an additional 222 shares during the last quarter. Fifth Third Bancorp increased its position in Knight-Swift Transportation by 44.4% in the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares during the period. Blue Trust Inc. raised its holdings in Knight-Swift Transportation by 123.9% during the 1st 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. Public Employees Retirement System of Ohio raised its holdings in Knight-Swift Transportation by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock worth $2,091,000 after purchasing an additional 306 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Knight-Swift Transportation by 7.9% during the 4th quarter. Parallel Advisors LLC now owns 4,240 shares of the transportation company’s stock valued at $222,000 after purchasing an additional 309 shares during the period. 88.77% of the stock is currently owned by 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.