Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $52.00

Knight-Swift Transportation (NYSE:KNX) had its price target reduced by research analysts at TD Cowen from $58.00 to $52.00 in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm currently has a “buy” rating on the transportation company’s stock. TD Cowen’s price target points to a potential upside of 7.04% from the stock’s current price.

A number of other analysts have also commented on the stock. Susquehanna reduced their price objective on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating for the company in a research note on Monday, March 25th. Stifel Nicolaus upped their price objective on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. reduced their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Tuesday, April 9th. Barclays reduced their price objective on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, April 1st. Finally, Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and dropped their target price for the company from $63.00 to $53.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $61.31.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX opened at $48.58 on Thursday. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 36.53, a PEG ratio of 1.47 and a beta of 0.99. The firm has a 50-day moving average of $55.07 and a two-hundred day moving average of $54.23.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. As a group, analysts expect that Knight-Swift Transportation will post 2.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Knight-Swift Transportation by 8.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 190 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Knight-Swift Transportation by 25.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 200 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Knight-Swift Transportation by 2.9% during the fourth quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock valued at $416,000 after acquiring an additional 205 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Knight-Swift Transportation by 2.8% during the third quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock valued at $378,000 after acquiring an additional 207 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Knight-Swift Transportation by 0.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock valued at $2,310,000 after acquiring an additional 209 shares during the period. 88.77% of the stock is owned by institutional investors.

Knight-Swift Transportation Company Profile

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.