Susquehanna Lowers Knight-Swift Transportation (NYSE:KNX) to Neutral


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Knight-Swift Transportation (NYSE:KNX) was downgraded by Susquehanna from a “positive” rating to a “neutral” rating in a research report issued on Monday, Analyst Ratings Network reports. They presently have a $53.00 target price on the transportation company’s stock, up from their prior target price of $51.00. Susquehanna’s price target points to a potential upside of 6.13% from the stock’s current price.

KNX has been the subject of several other research reports. Bank of America upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and increased their target price for the company from $46.00 to $52.00 in a research note on Wednesday, March 10th. KCG raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and upped their price target for the company from $46.00 to $52.00 in a report on Thursday, March 4th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a report on Thursday, January 7th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $45.00 price target (down previously from $56.00) on shares of Knight-Swift Transportation in a report on Tuesday, March 16th. Finally, Vertical Research assumed coverage on Knight-Swift Transportation in a report on Friday, March 26th. They issued a “buy” rating and a $62.00 price target for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $50.70.

NYSE KNX opened at $49.94 on Monday. The firm’s fifty day simple moving average is $46.33 and its 200-day simple moving average is $42.69. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.04. Knight-Swift Transportation has a 1-year low of $33.72 and a 1-year high of $50.52. The company has a market capitalization of $8.27 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 0.87 and a beta of 1.19.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, January 27th. The transportation company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. Knight-Swift Transportation had a return on equity of 6.97% and a net margin of 7.30%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share. As a group, analysts predict that Knight-Swift Transportation will post 2.65 EPS for the current year.

In related news, Chairman Kevin P. Knight sold 49,600 shares of Knight-Swift Transportation stock in a transaction dated Friday, April 9th. The stock was sold at an average price of $50.06, for a total value of $2,482,976.00. Following the completion of the sale, the chairman now directly owns 5,509 shares in the company, valued at $275,780.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $50.00, for a total value of $2,500,000.00. Following the sale, the chairman now directly owns 5,509 shares of the company’s stock, valued at $275,450. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 199,600 shares of company stock worth $9,882,976. 27.50% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ raised its holdings in Knight-Swift Transportation by 323.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 98,296 shares of the transportation company’s stock worth $4,111,000 after purchasing an additional 75,061 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Knight-Swift Transportation by 85.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 374,678 shares of the transportation company’s stock worth $15,855,000 after purchasing an additional 172,366 shares during the last quarter. Norris Perne & French LLP MI raised its holdings in Knight-Swift Transportation by 6.3% during the 4th quarter. Norris Perne & French LLP MI now owns 312,951 shares of the transportation company’s stock worth $13,088,000 after purchasing an additional 18,669 shares during the last quarter. Aperio Group LLC raised its holdings in Knight-Swift Transportation by 10.5% during the 4th quarter. Aperio Group LLC now owns 110,115 shares of the transportation company’s stock worth $4,605,000 after purchasing an additional 10,488 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Knight-Swift Transportation by 31.0% during the 4th quarter. Alliancebernstein L.P. now owns 7,783,710 shares of the transportation company’s stock worth $325,515,000 after purchasing an additional 1,842,716 shares during the last quarter. 86.80% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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