Knight-Swift Transportation (NYSE:KNX) Upgraded by The Goldman Sachs Group to “Buy” Rating

Knight-Swift Transportation (NYSE:KNX) was upgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $65.00 price objective on the transportation company’s stock, up from their previous price objective of $45.00. The Goldman Sachs Group’s price target would indicate a potential upside of 45.25% from the company’s current price.

KNX has been the subject of several other research reports. Wells Fargo & Company increased their target price on Knight-Swift Transportation from $46.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. Bank of America increased their target price on Knight-Swift Transportation from $43.00 to $48.00 and gave the company a “neutral” rating in a research note on Friday, May 16th. Susquehanna decreased their target price on Knight-Swift Transportation from $54.00 to $45.00 and set a “positive” rating for the company in a research note on Thursday, April 24th. TD Cowen decreased their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Benchmark restated a “buy” rating and set a $63.00 target price on shares of Knight-Swift Transportation in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and an average target price of $52.67.

Knight-Swift Transportation Stock Performance

KNX opened at $44.75 on Monday. The company has a market cap of $7.25 billion, a PE ratio of 61.30 and a beta of 1.18. The stock has a 50-day moving average of $41.94 and a 200-day moving average of $49.30. Knight-Swift Transportation has a 52-week low of $36.69 and a 52-week high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.12 EPS. As a group, equities research analysts forecast that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Director Douglas L. Col bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at approximately $226,850. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of Knight-Swift Transportation by 9,383.3% in the 1st quarter. Larson Financial Group LLC now owns 569 shares of the transportation company’s stock worth $25,000 after buying an additional 563 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Knight-Swift Transportation by 93.4% in the 1st quarter. Brooklyn Investment Group now owns 642 shares of the transportation company’s stock worth $28,000 after buying an additional 310 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Knight-Swift Transportation by 88.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock worth $36,000 after buying an additional 322 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of Knight-Swift Transportation by 40.0% in the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock worth $49,000 after buying an additional 324 shares in the last quarter. Finally, Arcadia Investment Management Corp MI raised its holdings in shares of Knight-Swift Transportation by 167.2% in the 4th quarter. Arcadia Investment Management Corp MI now owns 1,336 shares of the transportation company’s stock worth $71,000 after buying an additional 836 shares in the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

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.