Knight-Swift Transportation (NYSE:KNX) Stock Rating Upgraded by Cowen

Knight-Swift Transportation (NYSE:KNX) was upgraded by analysts at Cowen from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, Briefing.com reports. The firm presently has a $62.00 price objective on the transportation company’s stock, up from their previous price objective of $59.00. Cowen’s price objective indicates a potential upside of 19.88% from the stock’s current price.

A number of other equities analysts also recently weighed in on KNX. Stephens boosted their price target on shares of Knight-Swift Transportation from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, July 22nd. UBS Group boosted their price target on shares of Knight-Swift Transportation from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Knight-Swift Transportation from $44.00 to $47.00 and gave the company an “underweight” rating in a report on Thursday, July 22nd. Stifel Europe initiated coverage on shares of Knight-Swift Transportation in a report on Monday, June 21st. They set a “buy” rating on the stock. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Knight-Swift Transportation from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Buy” and an average price target of $55.39.

KNX opened at $51.72 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 15.96, a P/E/G ratio of 0.87 and a beta of 1.27. The firm’s fifty day moving average price is $50.16 and its two-hundred day moving average price is $48.22. Knight-Swift Transportation has a 1 year low of $37.07 and a 1 year high of $54.00.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Tuesday, July 20th. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.10. The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Knight-Swift Transportation had a net margin of 10.88% and a return on equity of 10.01%. The business’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities analysts anticipate that Knight-Swift Transportation will post 3.97 EPS for the current year.

In other news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $50.48, for a total transaction of $100,960.00. Following the completion of the sale, the chief accounting officer now owns 2,215 shares of the company’s stock, valued at $111,813.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael K. Liu sold 2,225 shares of the stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $51.04, for a total value of $113,564.00. Following the sale, the vice president now directly owns 1,663 shares of the company’s stock, valued at approximately $84,879.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,100 shares of company stock worth $3,060,419. 3.10% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Macquarie Group Ltd. lifted its stake in Knight-Swift Transportation by 567.3% in the second quarter. Macquarie Group Ltd. now owns 2,350,880 shares of the transportation company’s stock worth $106,870,000 after acquiring an additional 1,998,564 shares during the period. Alliancebernstein L.P. lifted its stake in Knight-Swift Transportation by 23.3% in the first quarter. Alliancebernstein L.P. now owns 9,595,520 shares of the transportation company’s stock worth $461,449,000 after acquiring an additional 1,811,810 shares during the period. BlackRock Inc. lifted its stake in Knight-Swift Transportation by 10.2% in the first quarter. BlackRock Inc. now owns 13,524,368 shares of the transportation company’s stock worth $650,386,000 after acquiring an additional 1,248,505 shares during the period. Morgan Stanley lifted its stake in Knight-Swift Transportation by 40.2% in the first quarter. Morgan Stanley now owns 4,051,035 shares of the transportation company’s stock worth $194,813,000 after acquiring an additional 1,161,047 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Knight-Swift Transportation by 31.9% in the first quarter. JPMorgan Chase & Co. now owns 4,061,613 shares of the transportation company’s stock worth $195,324,000 after acquiring an additional 981,621 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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