The Goldman Sachs Group Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its price target raised by equities research analysts at The Goldman Sachs Group from $65.00 to $86.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price target points to a potential upside of 14.51% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Citigroup lowered Knight-Swift Transportation from a “buy” rating to a “neutral” rating and increased their price target for the stock from $72.00 to $90.00 in a research report on Monday, June 15th. Wells Fargo & Company upped their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. TD Cowen raised their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Benchmark increased their price target on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Finally, Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price objective on the stock in a research report on Tuesday, June 2nd. One investment 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 stock. According to MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus price target of $72.65.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX traded down $0.30 during midday trading on Tuesday, reaching $75.10. 258,065 shares of the company traded hands, compared to its average volume of 3,707,814. Knight-Swift Transportation has a 12 month low of $38.63 and a 12 month high of $82.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s 50-day simple moving average is $69.94 and its 200-day simple moving average is $61.14. The firm has a market cap of $12.20 billion, a PE ratio of 358.55, a PEG ratio of 0.95 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. As a group, equities analysts anticipate that Knight-Swift Transportation will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in shares of Knight-Swift Transportation by 23.6% in the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after acquiring an additional 2,468,293 shares during the last quarter. Invesco Ltd. grew its holdings in Knight-Swift Transportation by 513.6% during the fourth quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock valued at $126,354,000 after purchasing an additional 2,022,996 shares during the period. Norges Bank bought a new stake in Knight-Swift Transportation in the fourth quarter valued at approximately $92,070,000. Balyasny Asset Management L.P. increased its stake in Knight-Swift Transportation by 269.7% in the third quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock valued at $88,164,000 after purchasing an additional 1,627,791 shares in the last quarter. Finally, Junto Capital Management LP raised its holdings in Knight-Swift Transportation by 252.4% in the third quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock worth $89,377,000 after purchasing an additional 1,620,224 shares during the period. Institutional investors and hedge funds 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.