Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $57.00 at Barclays

Knight-Swift Transportation (NYSE:KNX) had its price objective decreased by Barclays from $62.00 to $57.00 in a research note released on Thursday, Benzinga reports. Barclays currently has an overweight rating on the transportation company’s stock.

Other equities analysts also recently issued research reports about the company. Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and cut their target price for the company from $63.00 to $53.00 in a research report on Thursday. Stephens lowered their target price on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a report on Thursday. Stifel Nicolaus upped their price target on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a report on Wednesday, January 10th. Susquehanna decreased their price objective on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their target price on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $57.77.

Knight-Swift Transportation Stock Down 1.3 %

Shares of KNX opened at $47.88 on Thursday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 36.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.99. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The business’s 50 day simple moving average is $54.83 and its 200-day simple moving average is $54.19.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $1.92 billion. As a group, equities analysts expect that Knight-Swift Transportation will post 2.3 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were given a dividend of $0.16 per share. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.34%. Knight-Swift Transportation’s dividend payout ratio is presently 48.12%.

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its holdings in Knight-Swift Transportation by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares during the period. Vanguard Group Inc. lifted its holdings in Knight-Swift Transportation by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after buying an additional 57,000 shares during the period. State Street Corp boosted its position in Knight-Swift Transportation by 2.7% during the 1st quarter. State Street Corp now owns 6,314,648 shares of the transportation company’s stock valued at $318,637,000 after acquiring an additional 166,644 shares in the last quarter. Morgan Stanley raised its position in shares of Knight-Swift Transportation by 8.4% in the 4th quarter. Morgan Stanley now owns 5,015,443 shares of the transportation company’s stock worth $262,859,000 after acquiring an additional 387,501 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after purchasing an additional 3,767,408 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.