Knight-Swift Transportation (NYSE:KNX) Given New $100.00 Price Target at Morgan Stanley

by · The Markets Daily

Knight-Swift Transportation (NYSE:KNX – Free Report) had its target price hoisted by Morgan Stanley from $70.00 to $100.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company’s stock.

A number of other equities research analysts have also issued reports on the stock. Raymond James Financial increased their price objective on shares of Knight-Swift Transportation from $76.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 2nd. Evercore upgraded shares of Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Friday, March 27th. Benchmark raised their price objective on Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Robert W. Baird lifted their target price on Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Finally, The Goldman Sachs Group increased their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.18.

View Our Latest Analysis on KNX

Knight-Swift Transportation Stock Down 0.2%

Knight-Swift Transportation stock traded down $0.12 on Monday, hitting $74.69. 58,035 shares of the stock traded hands, compared to its average volume of 3,681,845. Knight-Swift Transportation has a 1 year low of $38.63 and a 1 year high of $82.86. The firm has a market cap of $12.14 billion, a P/E ratio of 355.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The business’s fifty day simple moving average is $72.48 and its 200 day simple moving average is $62.87.

Knight-Swift Transportation (NYSE:KNX – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Knight-Swift Transportation will post 2.14 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Monday, June 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 380.95%.

Institutional Trading of Knight-Swift Transportation

Several large investors have recently made changes to their positions in KNX. DV Trading LLC purchased a new stake in Knight-Swift Transportation during the first quarter worth $287,000. Parallel Advisors LLC increased its position in shares of Knight-Swift Transportation by 8.6% in the first quarter. Parallel Advisors LLC now owns 4,606 shares of the transportation company’s stock valued at $265,000 after buying an additional 366 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Knight-Swift Transportation by 2,833.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,726 shares of the transportation company’s stock worth $215,000 after buying an additional 3,599 shares during the period. Westshore Wealth LLC purchased a new stake in Knight-Swift Transportation in the 1st quarter worth $205,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Knight-Swift Transportation by 20.8% in the first quarter. EverSource Wealth Advisors LLC now owns 51,170 shares of the transportation company’s stock valued at $2,946,000 after purchasing an additional 8,817 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Knight-Swift Transportation

(Get Free Report)

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

Featured Articles