Knight-Swift Transportation (KNX) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Knight-Swift Transportation (NYSE:KNX) from a market perform rating to an outperform rating in a research note published on Monday morning. Wolfe Research currently has $57.00 price objective on the transportation company’s stock.

A number of other equities research analysts have also recently commented on KNX. Knight Equity upgraded Knight-Swift Transportation to a buy rating in a research note on Tuesday, November 14th. Zacks Investment Research cut Knight-Swift Transportation from a hold rating to a strong sell rating in a research note on Tuesday, November 14th. KeyCorp lifted their target price on Knight-Swift Transportation from $45.00 to $55.00 and gave the stock an overweight rating in a research note on Tuesday, January 2nd. Morgan Stanley initiated coverage on Knight-Swift Transportation in a research note on Wednesday, December 13th. They set an overweight rating and a $50.00 target price on the stock. Finally, Credit Suisse Group lowered their target price on Knight-Swift Transportation from $41.00 to $40.00 and set a neutral rating on the stock in a research note on Tuesday, November 7th. Seven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Knight-Swift Transportation has an average rating of Buy and an average price target of $49.60.

Knight-Swift Transportation (NYSE KNX) opened at $47.36 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.32 and a current ratio of 1.51. Knight-Swift Transportation has a 52 week low of $26.68 and a 52 week high of $51.94. The firm has a market capitalization of $8,647.54, a price-to-earnings ratio of 16.48 and a beta of 1.71.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Tuesday, January 30th. The transportation company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.13. Knight-Swift Transportation had a return on equity of 5.92% and a net margin of 12.58%. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $0.29 EPS. The business’s revenue was up 370.2% on a year-over-year basis. equities research analysts anticipate that Knight-Swift Transportation will post 2.24 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Thursday, March 1st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.51%. The ex-dividend date is Wednesday, February 28th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 2.09%.

In other Knight-Swift Transportation news, Director Michael Garnreiter sold 1,000 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $43.00, for a total transaction of $43,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Todd F. Carlson sold 9,000 shares of Knight-Swift Transportation stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.24, for a total value of $353,160.00. The disclosure for this sale can be found here. In the last three months, insiders sold 12,500 shares of company stock valued at $492,410. 9.90% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in Knight-Swift Transportation by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,594 shares of the transportation company’s stock valued at $2,060,000 after buying an additional 4,634 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Knight-Swift Transportation by 238.8% during the 3rd quarter. LS Investment Advisors LLC now owns 11,395 shares of the transportation company’s stock valued at $473,000 after buying an additional 8,032 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Knight-Swift Transportation during the 3rd quarter valued at about $11,137,000. Vanguard Group Inc. grew its holdings in Knight-Swift Transportation by 10.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,279,350 shares of the transportation company’s stock valued at $232,649,000 after buying an additional 590,259 shares in the last quarter. Finally, Strs Ohio grew its holdings in Knight-Swift Transportation by 1,836.0% during the 3rd quarter. Strs Ohio now owns 112,290 shares of the transportation company’s stock valued at $4,665,000 after buying an additional 106,490 shares in the last quarter. 77.78% of the stock is owned by institutional investors and hedge funds.

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About Knight-Swift Transportation

Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.

Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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