Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $60.00

Knight-Swift Transportation (NYSE:KNX) had its price objective reduced by Stephens from $65.00 to $60.00 in a research note released on Thursday, Benzinga reports. Stephens currently has an overweight rating on the transportation company’s stock.

A number of other analysts also recently issued reports on the company. Susquehanna decreased their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Barclays reduced their price target on Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating for the company in a research report on Monday, April 1st. Bank of America reduced their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a research report on Thursday. Finally, Loop Capital cut Knight-Swift Transportation from a buy rating to a hold rating and reduced their price target for the company from $63.00 to $53.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $57.77.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $47.88 on Thursday. The business’s fifty day simple moving average is $54.83 and its 200 day simple moving average is $54.19. The firm has a market capitalization of $7.73 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Knight-Swift Transportation has a 12 month low of $45.73 and a 12 month high of $60.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. As a group, analysts anticipate that Knight-Swift Transportation will post 2.3 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, March 7th. This represents a $0.64 annualized dividend and a yield of 1.34%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s payout ratio is 48.12%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated 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 owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Knight-Swift Transportation by 8.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 190 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake 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 acquiring an additional 200 shares during the last quarter. Arkadios Wealth Advisors lifted its stake 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 acquiring an additional 205 shares during the last quarter. Private Advisor Group LLC lifted its stake 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 acquiring an additional 207 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake 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 acquiring an additional 209 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

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.