Knight-Swift Transportation (NYSE:KNX) PT Lowered to $60.00

Knight-Swift Transportation (NYSE:KNX) had its price objective lowered by JPMorgan Chase & Co. from $62.00 to $60.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 16.46% from the stock’s current price.

KNX has been the subject of a number of other reports. Stifel Nicolaus upped their price target on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Barclays lowered their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 1st. Finally, Susquehanna lowered their price target on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating for the company in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.75.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock opened at $51.52 on Tuesday. Knight-Swift Transportation has a 52-week low of $45.73 and a 52-week high of $60.99. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 38.74, a price-to-earnings-growth ratio of 1.49 and a beta of 0.99. The company has a fifty day moving average of $55.95 and a 200-day moving average of $54.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) 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 analysts’ expectations of $1.92 billion. Equities research analysts expect that Knight-Swift Transportation will post 2.38 EPS for the current year.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its position in Knight-Swift Transportation by 8.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock valued at $131,000 after purchasing an additional 190 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Knight-Swift Transportation by 25.0% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 200 shares during the last quarter. Arkadios Wealth Advisors grew its position in Knight-Swift Transportation by 2.9% during the 4th quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock valued at $416,000 after purchasing an additional 205 shares during the last quarter. Private Advisor Group LLC grew its position in Knight-Swift Transportation by 2.8% during the 3rd quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock valued at $378,000 after purchasing an additional 207 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Knight-Swift Transportation by 0.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock valued at $2,310,000 after acquiring an additional 209 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.