Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $53.00 by Analysts at Evercore ISI

Knight-Swift Transportation (NYSE:KNX) had its price objective cut by Evercore ISI from $55.00 to $53.00 in a research report released on Tuesday morning, Benzinga reports. They currently have an in-line rating on the transportation company’s stock.

Other equities analysts also recently issued reports about the company. Susquehanna lowered their price target on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a report on Thursday, April 18th. Stephens reduced their price objective 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. Raymond James assumed coverage on Knight-Swift Transportation in a research note on Wednesday, May 15th. They issued a strong-buy rating and a $58.00 price objective for the company. Robert W. Baird reduced their target price on shares of Knight-Swift Transportation from $64.00 to $60.00 and set an outperform rating for the company in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $57.14.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $49.93 on Tuesday. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The company has a market cap of $8.07 billion, a PE ratio of 74.52, a P/E/G ratio of 1.23 and a beta of 0.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.93 and a current ratio of 0.93. The business has a 50-day simple moving average of $48.05 and a 200-day simple moving average of $53.16.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.73 earnings per share. On average, equities research analysts forecast that Knight-Swift Transportation will post 1.26 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Monday, June 10th were given a $0.16 dividend. The ex-dividend date was Monday, June 10th. This represents a $0.64 dividend on an annualized basis and a yield of 1.28%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in KNX. Victory Capital Management Inc. lifted its position in shares of Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after acquiring an additional 3,767,408 shares during the period. Norges Bank acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter valued at approximately $201,232,000. Wellington Management Group LLP lifted its position in shares of Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after acquiring an additional 2,137,296 shares during the period. Balyasny Asset Management L.P. lifted its position in shares of Knight-Swift Transportation by 225.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock valued at $49,881,000 after acquiring an additional 599,193 shares during the period. Finally, Fiera Capital Corp lifted its position in shares of Knight-Swift Transportation by 4,385.6% during the 4th quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock valued at $22,563,000 after acquiring an additional 382,646 shares during the period. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.