Evercore ISI Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $55.00

Knight-Swift Transportation (NYSE:KNX) had its target price decreased by Evercore ISI from $60.00 to $55.00 in a research note released on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

Several other brokerages also recently commented on KNX. 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 research note on Thursday, April 18th. 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 research note 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 research note on Thursday, April 18th. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and reduced their target price for the stock from $63.00 to $53.00 in a research note on Thursday, April 18th. Finally, TD Cowen reduced their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $57.71.

Knight-Swift Transportation Stock Down 0.5 %

KNX stock opened at $46.89 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.93 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average price of $53.52 and a two-hundred day moving average price of $54.22. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 69.99, a P/E/G ratio of 2.39 and a beta of 0.99. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). Knight-Swift Transportation had a net margin of 1.50% and a return on equity of 2.54%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Analysts anticipate that Knight-Swift Transportation will post 1.31 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

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

Insider Buying and Selling at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’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 transaction, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors have recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in shares of Knight-Swift Transportation by 25.0% in 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 buying an additional 200 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of Knight-Swift Transportation by 2.9% in the 4th quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock valued at $416,000 after buying an additional 205 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Knight-Swift Transportation by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock valued at $378,000 after buying an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Knight-Swift Transportation by 0.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock valued at $2,310,000 after buying an additional 209 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Knight-Swift Transportation by 0.3% in the 4th quarter. Yousif Capital Management LLC now owns 77,858 shares of the transportation company’s stock valued at $4,489,000 after buying an additional 212 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

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.