Evercore ISI Lowers Knight-Swift Transportation (NYSE:KNX) Price Target to $49.00

by · The Markets Daily

Knight-Swift Transportation (NYSE:KNX – Free Report) had its target price decreased by Evercore ISI from $55.00 to $49.00 in a research report report published on Thursday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the transportation company’s stock.

Several other analysts have also recently weighed in on KNX. JPMorgan Chase & Co. lifted their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a neutral rating in a report on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They issued an overweight rating and a $56.00 price target on the stock. Bank of America lifted their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a buy rating in a report on Monday, July 22nd. Raymond James cut their price target on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a strong-buy rating on the stock in a report on Thursday, July 25th. Finally, Barclays lifted their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the company an overweight rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $56.71.

Read Our Latest Stock Analysis on KNX

Knight-Swift Transportation Stock Down 3.1 %

Shares of Knight-Swift Transportation stock opened at $49.85 on Thursday. 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 has a 52-week low of $45.55 and a 52-week high of $60.99. The stock has a market capitalization of $8.07 billion, a price-to-earnings ratio of 74.40, a P/E/G ratio of 1.44 and a beta of 0.92. The company’s 50 day moving average price is $52.40 and its 200-day moving average price is $50.52.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities research analysts forecast that Knight-Swift Transportation will post 1.09 EPS for the current 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 given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Insider Transactions at Knight-Swift Transportation

In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the transaction, the chairman now directly 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 disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock valued at $4,367,869 in the last quarter. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB raised its position in Knight-Swift Transportation by 1.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 45,900 shares of the transportation company’s stock worth $2,476,000 after buying an additional 700 shares during the last quarter. SG Americas Securities LLC purchased a new position in Knight-Swift Transportation in the 3rd quarter worth about $661,000. Teachers Retirement System of The State of Kentucky raised its position in Knight-Swift Transportation by 46.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 76,849 shares of the transportation company’s stock worth $3,837,000 after buying an additional 24,451 shares during the last quarter. Brandes Investment Partners LP purchased a new position in Knight-Swift Transportation in the 2nd quarter worth about $30,251,000. Finally, Creative Planning raised its position in Knight-Swift Transportation by 39.7% in the 2nd quarter. Creative Planning now owns 20,188 shares of the transportation company’s stock worth $1,008,000 after buying an additional 5,736 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

(Get Free Report)

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.

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