Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $60.00 by Analysts at Robert W. Baird

Knight-Swift Transportation (NYSE:KNX) had its target price reduced by analysts at Robert W. Baird from $64.00 to $60.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the transportation company’s stock. Robert W. Baird’s price target would indicate a potential upside of 23.71% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Stifel Nicolaus decreased their price target on Knight-Swift Transportation from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. JPMorgan Chase & Co. decreased their price target on 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. Bank of America decreased their price target on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. TD Cowen decreased their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Stephens cut their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Knight-Swift Transportation has an average rating of “Moderate Buy” and a consensus price target of $57.93.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $48.50 on Thursday. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99. The business has a 50-day simple moving average of $53.94 and a two-hundred day simple moving average of $54.22. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The stock has a market cap of $7.83 billion, a PE ratio of 36.47, a PEG ratio of 2.51 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its 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). The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. Analysts anticipate that Knight-Swift Transportation will post 1.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 5,118 shares in the company, valued at $287,836.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Wellington Management Group LLP lifted its holdings in shares of Knight-Swift Transportation by 15.7% in 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 purchasing an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Knight-Swift Transportation by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 908.9% in the fourth quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock valued at $241,086,000 after purchasing an additional 3,767,408 shares in the last quarter. Norges Bank bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $201,232,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Knight-Swift Transportation by 10.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,371,944 shares of the transportation company’s stock valued at $185,524,000 after acquiring an additional 311,788 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

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.