Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $61.00 at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its price target dropped by investment analysts at Bank of America from $64.00 to $61.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price suggests a potential upside of 11.07% from the company’s previous close.

Several other equities research analysts have also issued reports on KNX. Barclays lifted their price target on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Raymond James boosted their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their price target on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. TD Cowen raised their price objective on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a report on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $57.00.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $54.92 on Tuesday. The firm has a 50 day moving average of $55.10 and a 200-day moving average of $52.38. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $8.89 billion, a PE ratio of 238.79, a PEG ratio of 1.89 and a beta of 0.96.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. On average, equities research analysts predict that Knight-Swift Transportation will post 1.05 EPS for the current fiscal year.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the sale, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of large investors have recently modified their holdings of the company. American Trust acquired a new stake in shares of Knight-Swift Transportation in the 3rd quarter worth about $204,000. Franklin Resources Inc. purchased a new stake in shares of Knight-Swift Transportation in the third quarter worth approximately $70,185,000. Sanctuary Advisors LLC bought a new position in shares of Knight-Swift Transportation in the third quarter valued at approximately $378,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Knight-Swift Transportation by 5.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 81,400 shares of the transportation company’s stock valued at $4,392,000 after buying an additional 4,551 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Knight-Swift Transportation by 31.8% during the third quarter. Toronto Dominion Bank now owns 20,384 shares of the transportation company’s stock valued at $1,100,000 after buying an additional 4,913 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.