Barclays Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $62.00

Knight-Swift Transportation (NYSE:KNXFree Report) had its price target trimmed by Barclays from $65.00 to $62.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the transportation company’s stock.

A number of other equities analysts also recently issued reports on the company. Susquehanna dropped their price target on Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Monday, March 25th. TheStreet raised Knight-Swift Transportation from a c+ rating to a b- rating in a research report on Monday, December 4th. Finally, Stifel Nicolaus increased their price target 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $62.50.

View Our Latest Stock Analysis on KNX

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $54.32 on Monday. The stock’s fifty day moving average is $56.47 and its two-hundred day moving average is $54.19. The company has a market capitalization of $8.77 billion, a PE ratio of 40.85, a price-to-earnings-growth ratio of 1.48 and a beta of 0.99. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation has a 52 week low of $45.73 and a 52 week high of $60.99.

Knight-Swift Transportation (NYSE:KNXGet Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.38). The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. As a group, analysts expect that Knight-Swift Transportation will post 2.47 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a dividend of $0.16 per share. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio is 48.12%.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Knight-Swift Transportation by 0.4% in the third quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock valued at $750,459,000 after buying an additional 54,133 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Knight-Swift Transportation by 4.5% in the third quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company’s stock worth $62,950,000 after purchasing an additional 54,076 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Knight-Swift Transportation by 22.6% in the third quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company’s stock worth $10,328,000 after purchasing an additional 37,934 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Knight-Swift Transportation by 3,637.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock worth $10,701,000 after purchasing an additional 180,659 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Knight-Swift Transportation in the third quarter worth about $4,674,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

(Get Free Report)

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.

Further Reading

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

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