Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Receives $56.00 Average Target Price from Brokerages

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $56.00.

Several equities analysts have recently issued reports on KNX shares. JPMorgan Chase & Co. reduced their target price on Knight-Swift Transportation from $55.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. UBS Group reduced their price target on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Evercore ISI lowered their price objective on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Wells Fargo & Company assumed coverage on Knight-Swift Transportation in a research report on Friday, June 7th. They set an “overweight” rating and a $56.00 price objective on the stock. Finally, Raymond James assumed coverage on Knight-Swift Transportation in a research report on Wednesday, May 15th. They issued a “strong-buy” rating and a $58.00 target price for the company.

Institutional Trading of Knight-Swift Transportation

Several institutional investors have recently bought and sold shares of the company. Lido Advisors LLC grew its holdings in shares of Knight-Swift Transportation by 7.3% during the third quarter. Lido Advisors LLC now owns 4,346 shares of the transportation company’s stock valued at $218,000 after buying an additional 297 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Knight-Swift Transportation by 3.8% in the 3rd quarter. Sei Investments Co. now owns 285,621 shares of the transportation company’s stock worth $14,324,000 after purchasing an additional 10,456 shares in the last quarter. Comerica Bank purchased a new position in shares of Knight-Swift Transportation in the third quarter worth $4,674,000. Wellington Management Group LLP lifted its holdings in shares of Knight-Swift Transportation by 15.2% during the third quarter. Wellington Management Group LLP now owns 13,578,508 shares of the transportation company’s stock valued at $680,962,000 after purchasing an additional 1,794,133 shares in the last quarter. Finally, Citigroup Inc. boosted its position in shares of Knight-Swift Transportation by 192.4% during the third quarter. Citigroup Inc. now owns 86,467 shares of the transportation company’s stock valued at $4,336,000 after buying an additional 180,065 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Price Performance

KNX opened at $51.16 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $8.27 billion, a P/E ratio of 76.36, a PEG ratio of 1.31 and a beta of 0.94. The stock has a 50-day moving average price of $48.66 and a 200-day moving average price of $52.40. Knight-Swift Transportation has a 12-month low of $45.55 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business earned $0.73 EPS. Knight-Swift Transportation’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts predict that Knight-Swift Transportation will post 1.23 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. Knight-Swift Transportation’s payout ratio is presently 95.52%.

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.