Barclays Lowers Knight-Swift Transportation (NYSE:KNX) Price Target to $57.00

Knight-Swift Transportation (NYSE:KNX) had its target price reduced by investment analysts at Barclays from $62.00 to $57.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective would indicate a potential upside of 18.36% from the stock’s previous close.

A number of other research firms have also recently commented on KNX. Bank of America decreased their target price on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday. Loop Capital cut shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and decreased their target price for the company from $63.00 to $53.00 in a research report on Thursday. Stifel Nicolaus upped their target price on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Stephens decreased their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, Susquehanna decreased their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $57.77.

Knight-Swift Transportation Trading Up 0.6 %

Shares of KNX opened at $48.16 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The firm has a 50-day moving average price of $54.60 and a 200 day moving average price of $54.18. The firm has a market capitalization of $7.78 billion, a P/E ratio of 36.21, a P/E/G ratio of 1.40 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The firm had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Sell-side analysts forecast that Knight-Swift Transportation will post 2.3 EPS for the current year.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

A number of large investors have recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in shares of Knight-Swift Transportation by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after buying an additional 2,137,296 shares during the period. Vanguard Group Inc. increased its stake in Knight-Swift Transportation by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares during the last quarter. State Street Corp increased its stake in Knight-Swift Transportation by 2.7% in the first quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after purchasing an additional 166,644 shares during the last quarter. Morgan Stanley increased its stake in Knight-Swift Transportation by 8.4% in the fourth quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock valued at $262,859,000 after purchasing an additional 387,501 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Knight-Swift Transportation by 908.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after purchasing an additional 3,767,408 shares during the last quarter. 88.77% of the stock is currently 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.