Knight-Swift Transportation (NYSE:KNX) Price Target Increased to $58.00 by Analysts at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its price target boosted by Bank of America from $57.00 to $58.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target indicates a potential upside of 12.58% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group decreased their price target on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. UBS Group decreased their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Evercore ISI increased their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday. Raymond James increased their price target on Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Monday, October 14th. Finally, Citigroup started coverage on Knight-Swift Transportation in a research note on Wednesday, October 9th. They set a “neutral” rating and a $55.00 target price for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.88.

Knight-Swift Transportation Trading Down 2.3 %

Knight-Swift Transportation stock traded down $1.22 during trading hours on Thursday, hitting $51.52. The stock had a trading volume of 2,113,192 shares, compared to its average volume of 2,062,292. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 125.66, a P/E/G ratio of 1.74 and a beta of 0.92. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The business’s 50 day simple moving average is $52.27 and its 200-day simple moving average is $50.37.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate 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%. Knight-Swift Transportation’s revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. On average, equities analysts predict that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now directly owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,196 shares of company stock worth $4,367,869. 3.00% of the stock is owned by company insiders.

Institutional Trading of Knight-Swift Transportation

Large investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its position in Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after buying an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after buying an additional 343 shares during the last quarter. Blue Trust Inc. grew its position in shares of Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 579 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Knight-Swift Transportation by 36.6% in the third quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 302 shares in the last quarter. 88.77% 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 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.