Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $60.00 at Robert W. Baird

Knight-Swift Transportation (NYSE:KNX) had its price objective cut by Robert W. Baird from $64.00 to $60.00 in a report released on Thursday morning, Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

Several other research analysts have also recently issued reports on the company. Loop Capital cut Knight-Swift Transportation from a buy rating to a hold rating and dropped their price target for the company from $63.00 to $53.00 in a report on Thursday, April 18th. TD Cowen dropped their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday, April 18th. Stephens reduced their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a report on Thursday, April 18th. Bank of America reduced their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a report on Thursday, April 18th. Finally, Barclays reduced their target price on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $57.71.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $47.14 on Thursday. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 70.36, a PEG ratio of 2.48 and a beta of 0.99. The stock’s 50 day moving average price is $53.72 and its 200 day moving average price is $54.17. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 24th. The transportation company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 2.53% and a net margin of 1.50%. The firm had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm earned $0.73 EPS. Knight-Swift Transportation’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities research analysts anticipate that Knight-Swift Transportation will post 1.31 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.36%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 95.52%.

Insider Activity at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds have recently modified their holdings of KNX. Rise Advisors LLC bought a new position in Knight-Swift Transportation during the first quarter worth about $25,000. GAMMA Investing LLC grew its holdings in Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after purchasing an additional 253 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Knight-Swift Transportation by 136.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock worth $38,000 after acquiring an additional 385 shares during the period. Blue Trust Inc. boosted its holdings in shares of Knight-Swift Transportation by 80.3% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock worth $42,000 after acquiring an additional 326 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Knight-Swift Transportation by 61.7% during the fourth quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock worth $43,000 after acquiring an additional 283 shares during the period. Institutional investors own 88.77% of the company’s stock.

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.