Raymond James Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $57.00

Knight-Swift Transportation (NYSE:KNX) had its price objective trimmed by Raymond James from $58.00 to $57.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a strong-buy rating on the transportation company’s stock.

Several other brokerages have also recently commented on KNX. Wolfe Research cut Knight-Swift Transportation from an outperform rating to a peer perform rating in a report on Thursday, July 11th. StockNews.com raised shares of Knight-Swift Transportation to a sell rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised their price objective on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a neutral rating in a research report on Thursday. Evercore ISI reduced their target price on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an in-line rating on the stock in a research report on Tuesday, June 25th. Finally, Bank of America increased their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a buy rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $56.79.

Knight-Swift Transportation Trading Down 1.5 %

Shares of KNX stock opened at $51.25 on Thursday. The company has a quick ratio of 0.93, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $8.28 billion, a P/E ratio of 76.49, a P/E/G ratio of 1.39 and a beta of 0.94. Knight-Swift Transportation has a 12-month low of $45.55 and a 12-month high of $60.99. The firm has a 50-day moving average price of $48.74 and a 200 day moving average price of $52.08.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business’s revenue was up 18.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 EPS. Research analysts forecast that Knight-Swift Transportation will post 1.16 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 24th. Stockholders of record on Monday, June 10th were given a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.64 annualized dividend and a dividend yield of 1.25%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Institutional Investors Weigh In On Knight-Swift Transportation

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in Knight-Swift Transportation by 583.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 33,165 shares of the transportation company’s stock worth $1,912,000 after buying an additional 28,309 shares during the last quarter. Wellington Management Group LLP boosted its stake in 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 worth $906,016,000 after acquiring an additional 2,137,296 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Knight-Swift Transportation by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,952 shares of the transportation company’s stock worth $61,049,000 after acquiring an additional 35,549 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Knight-Swift Transportation by 63.8% during the fourth quarter. V Square Quantitative Management LLC now owns 1,697 shares of the transportation company’s stock valued at $98,000 after purchasing an additional 661 shares during the period. Finally, Duality Advisers LP increased its stake in Knight-Swift Transportation by 1,686.4% in the first quarter. Duality Advisers LP now owns 66,098 shares of the transportation company’s stock valued at $3,637,000 after purchasing an additional 62,398 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.