TD Cowen Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $56.00

Knight-Swift Transportation (NYSE:KNX) had its price objective upped by equities researchers at TD Cowen from $55.00 to $56.00 in a research note issued to investors on Thursday, Briefing.com reports. The firm presently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target would indicate a potential upside of 6.18% from the company’s previous close.

KNX has been the topic of a number of other reports. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. lifted their target price on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. Citigroup assumed coverage on shares of Knight-Swift Transportation in a research report on Wednesday, October 9th. They issued a “neutral” rating and a $55.00 price target on the stock. Bank of America raised their target price on 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, Barclays boosted their price target on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Hold” and an average price target of $54.53.

Knight-Swift Transportation Stock Down 0.1 %

Shares of NYSE:KNX opened at $52.74 on Thursday. Knight-Swift Transportation has a 52-week low of $45.55 and a 52-week high of $60.99. The company has a market capitalization of $8.54 billion, a PE ratio of 128.64, a price-to-earnings-growth 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. The company has a fifty day moving average of $52.27 and a 200-day moving average of $50.37.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities analysts predict that Knight-Swift Transportation will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the transaction, the director now owns 21,833 shares in the company, valued at $1,164,135.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the sale, the director now owns 21,833 shares in the company, valued at $1,164,135.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the transaction, the director now directly owns 17,648 shares in the company, valued at approximately $892,459.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,196 shares of company stock worth $4,367,869. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in Knight-Swift Transportation by 11.7% during the third quarter. Assenagon Asset Management S.A. now owns 5,704 shares of the transportation company’s stock worth $308,000 after purchasing an additional 597 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Knight-Swift Transportation by 13.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,075,449 shares of the transportation company’s stock valued at $219,870,000 after buying an additional 467,647 shares in the last quarter. nVerses Capital LLC bought a new stake in Knight-Swift Transportation during the 3rd quarter valued at $361,000. Creative Planning raised its stake in shares of Knight-Swift Transportation by 4.7% during the 3rd quarter. Creative Planning now owns 21,133 shares of the transportation company’s stock valued at $1,140,000 after purchasing an additional 945 shares during the period. Finally, Inspire Investing LLC lifted its holdings in shares of Knight-Swift Transportation by 8.1% in the third quarter. Inspire Investing LLC now owns 7,597 shares of the transportation company’s stock worth $410,000 after buying an additional 572 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.