Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Receives $57.00 Consensus Price Target from Brokerages

Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) have received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $58.19.

Several research analysts recently issued reports on the company. TD Cowen raised their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI raised their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Bank of America reduced their target price on Knight-Swift Transportation from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, December 17th. Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a research report on Tuesday, November 12th. Finally, Raymond James boosted their price target on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $53.94 on Thursday. The business’s 50-day moving average price is $55.48 and its 200-day moving average price is $52.98. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 234.53, a PEG ratio of 1.89 and a beta of 0.98. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $0.41 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. Equities research analysts forecast that Knight-Swift Transportation will post 1.05 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is currently 278.26%.

Insider Activity

In related news, Chairman Kevin P. Knight sold 29,779 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $57.19, for a total transaction of $1,703,061.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the transaction, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently made changes to their positions in KNX. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at $3,729,000. Charles Schwab Investment Management Inc. lifted its holdings in Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company’s stock valued at $61,878,000 after purchasing an additional 26,346 shares during the last quarter. Jane Street Group LLC boosted its position in Knight-Swift Transportation by 30.9% during the third quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company’s stock worth $3,771,000 after purchasing an additional 16,500 shares during the period. Paloma Partners Management Co increased its stake in shares of Knight-Swift Transportation by 681.6% in the third quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company’s stock worth $3,237,000 after purchasing an additional 52,323 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Knight-Swift Transportation by 116.1% in the third quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock valued at $7,056,000 after purchasing an additional 70,276 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

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.