Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $55.00

Knight-Swift Transportation (NYSE:KNX) had its target price lowered by Evercore ISI from $60.00 to $55.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “in-line” rating on the transportation company’s stock. Evercore ISI’s price target would indicate a potential upside of 17.32% from the stock’s current price.

Other research analysts have also issued reports about the company. Robert W. Baird lowered their price objective on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday. Stifel Nicolaus reduced their target price on Knight-Swift Transportation from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Barclays reduced their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Stephens reduced their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, JPMorgan Chase & Co. reduced their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.71.

Knight-Swift Transportation Stock Performance

KNX stock opened at $46.88 on Thursday. The stock has a 50-day moving average price of $53.52 and a 200-day moving average price of $54.15. Knight-Swift Transportation has a 1-year low of $45.73 and a 1-year high of $60.99. The company has a current ratio of 0.93, a quick ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm has a market cap of $7.57 billion, a PE ratio of 69.97, a price-to-earnings-growth ratio of 2.41 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $1.82 billion. During the same period last year, the business posted $0.73 earnings per share. The business’s revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts expect that Knight-Swift Transportation will post 1.31 earnings per share for the current year.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the transaction, the chief accounting officer now owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pinnacle Associates Ltd. purchased a new position in shares of Knight-Swift Transportation in the 1st quarter worth approximately $365,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Knight-Swift Transportation by 95.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 92,172 shares of the transportation company’s stock worth $5,071,000 after purchasing an additional 44,987 shares during the period. Simplicity Wealth LLC bought a new stake in shares of Knight-Swift Transportation in the 1st quarter worth approximately $353,000. Louisiana State Employees Retirement System raised its holdings in shares of Knight-Swift Transportation by 2.4% in the 1st quarter. Louisiana State Employees Retirement System now owns 46,400 shares of the transportation company’s stock worth $2,553,000 after purchasing an additional 1,100 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Knight-Swift Transportation by 9.1% in the 1st quarter. Amalgamated Bank now owns 109,035 shares of the transportation company’s stock worth $5,999,000 after purchasing an additional 9,079 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.