Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $100.00

Knight-Swift Transportation (NYSE:KNX) had its target price increased by investment analysts at Morgan Stanley from $70.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective would indicate a potential upside of 30.09% from the company’s previous close.

KNX has been the subject of a number of other research reports. Robert W. Baird boosted their price target on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. UBS Group raised their price objective on Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Zacks Research raised Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price for the company in a report on Tuesday, June 2nd. Finally, Stifel Nicolaus increased their target price on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.18.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $76.87 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a market cap of $12.49 billion, a P/E ratio of 367.83, a P/E/G ratio of 0.97 and a beta of 1.18. Knight-Swift Transportation has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The firm’s 50 day moving average is $72.30 and its two-hundred day moving average is $62.72.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Analysts expect that Knight-Swift Transportation will post 2.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in shares of Knight-Swift Transportation by 23.6% during the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after buying an additional 2,468,293 shares during the period. Invesco Ltd. boosted its holdings in Knight-Swift Transportation by 513.6% in the 4th quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock worth $126,354,000 after acquiring an additional 2,022,996 shares during the period. Norges Bank purchased a new position in Knight-Swift Transportation in the 4th quarter worth approximately $92,070,000. Balyasny Asset Management L.P. grew its position in Knight-Swift Transportation by 269.7% in the third quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock valued at $88,164,000 after acquiring an additional 1,627,791 shares in the last quarter. Finally, Junto Capital Management LP grew its position in Knight-Swift Transportation by 252.4% in the third quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock valued at $89,377,000 after acquiring an additional 1,620,224 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.