Knight-Swift Transportation (KNX) Upgraded by Goldman Sachs Group to Buy

Goldman Sachs Group upgraded shares of Knight-Swift Transportation (NYSE:KNX) from a neutral rating to a buy rating in a report released on Thursday, Marketbeat Ratings reports. The firm currently has $48.00 price target on the transportation company’s stock, up from their previous price target of $46.00. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently weighed in on KNX. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a sell rating to a hold rating in a research note on Friday, October 26th. Robert W. Baird decreased their target price on shares of Knight-Swift Transportation from $42.00 to $40.00 and set an outperform rating for the company in a research note on Thursday, October 25th. ValuEngine upgraded shares of Knight-Swift Transportation from a sell rating to a hold rating in a research note on Thursday, November 1st. UBS Group decreased their target price on shares of Knight-Swift Transportation from $57.00 to $42.00 and set a buy rating for the company in a research note on Thursday, July 26th. Finally, Credit Suisse Group decreased their target price on shares of Knight-Swift Transportation from $43.00 to $37.00 and set a neutral rating for the company in a research note on Thursday, July 26th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Knight-Swift Transportation presently has a consensus rating of Buy and an average price target of $48.24.

NYSE KNX traded down $0.84 during trading hours on Thursday, hitting $33.48. The company had a trading volume of 2,107,292 shares, compared to its average volume of 2,647,882. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.43 and a quick ratio of 1.47. Knight-Swift Transportation has a 1-year low of $29.00 and a 1-year high of $51.94. The company has a market capitalization of $6.04 billion, a PE ratio of 24.26, a P/E/G ratio of 0.96 and a beta of 1.51.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 24th. The transportation company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.07. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s quarterly revenue was up 158.2% compared to the same quarter last year. On average, research analysts expect that Knight-Swift Transportation will post 2.35 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Monday, December 3rd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.72%. Knight-Swift Transportation’s dividend payout ratio is currently 17.39%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Knight-Swift Transportation by 43.8% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,177 shares of the transportation company’s stock worth $193,000 after purchasing an additional 1,272 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its holdings in Knight-Swift Transportation by 13.8% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 12,613 shares of the transportation company’s stock worth $482,000 after purchasing an additional 1,529 shares in the last quarter. DnB Asset Management AS raised its holdings in Knight-Swift Transportation by 15.1% during the second quarter. DnB Asset Management AS now owns 12,200 shares of the transportation company’s stock worth $466,000 after purchasing an additional 1,600 shares in the last quarter. Arizona State Retirement System raised its holdings in Knight-Swift Transportation by 2.2% during the third quarter. Arizona State Retirement System now owns 91,055 shares of the transportation company’s stock worth $3,140,000 after purchasing an additional 1,918 shares in the last quarter. Finally, First Mercantile Trust Co. raised its holdings in Knight-Swift Transportation by 13.9% during the third quarter. First Mercantile Trust Co. now owns 15,968 shares of the transportation company’s stock worth $551,000 after purchasing an additional 1,954 shares in the last quarter. 79.93% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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

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