Knight-Swift Transportation (NYSE:KNX) PT Lowered to $70.00 at Morgan Stanley

Knight-Swift Transportation (NYSE:KNX) had its price objective reduced by Morgan Stanley from $72.00 to $70.00 in a research note published on Thursday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. TD Cowen boosted their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday. Evercore ISI raised their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday. Bank of America lifted their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Raymond James increased their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.94.

Knight-Swift Transportation Stock Up 1.2 %

NYSE KNX opened at $52.55 on Thursday. The stock has a 50 day moving average price of $52.22 and a 200-day moving average price of $50.35. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The company has a market capitalization of $8.51 billion, a P/E ratio of 128.17, a P/E/G ratio of 1.74 and a beta of 0.92. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the business earned $0.41 earnings per share. Knight-Swift Transportation’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, equities analysts predict that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is presently 156.10%.

Insider Buying and Selling

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the transaction, the chairman now owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the sale, the chairman now owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 85,196 shares of company stock valued at $4,367,869 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of KNX. Interval Partners LP raised its stake in Knight-Swift Transportation by 8,520.1% in the second quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock worth $64,547,000 after buying an additional 1,278,011 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Knight-Swift Transportation by 1,728.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock valued at $66,440,000 after acquiring an additional 1,258,157 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Knight-Swift Transportation by 27.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock valued at $271,121,000 after acquiring an additional 1,176,069 shares during the period. Millennium Management LLC raised its position in shares of Knight-Swift Transportation by 309.7% in the 2nd quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock worth $53,331,000 after acquiring an additional 807,572 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after purchasing an additional 744,412 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

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.