Susquehanna Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $59.00

Knight-Swift Transportation (NYSE:KNX) had its price target decreased by Susquehanna from $62.00 to $59.00 in a research report sent to investors on Monday, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other analysts have also commented on KNX. TheStreet upgraded Knight-Swift Transportation from a c+ rating to a b- rating in a research report on Monday, December 4th. Stifel Nicolaus lifted their price objective on Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a buy rating in a research report on Wednesday, January 10th. Finally, TD Cowen lifted their price objective on Knight-Swift Transportation from $58.00 to $61.00 and gave the stock an outperform rating in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $62.55.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX opened at $53.59 on Monday. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99. The firm has a market cap of $8.65 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The business has a fifty day moving average of $56.60 and a 200-day moving average of $54.13.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. On average, equities research analysts predict that Knight-Swift Transportation will post 2.47 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.16 per share. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is presently 48.12%.

Insider Activity at Knight-Swift Transportation

In related 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 completion of the transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its position in 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 worth $241,086,000 after acquiring an additional 3,767,408 shares during the last quarter. Norges Bank acquired a new position in Knight-Swift Transportation during the 4th quarter worth approximately $201,232,000. Wellington Management Group LLP boosted its position 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. Goldman Sachs Group Inc. boosted its position in Knight-Swift Transportation by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after acquiring an additional 892,933 shares during the last quarter. Finally, Steadfast Capital Management LP acquired a new position in Knight-Swift Transportation during the 2nd quarter worth approximately $38,875,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.