Knight-Swift Transportation (NYSE:KNX) Stock Rating Upgraded by Zacks Research

Knight-Swift Transportation (NYSE:KNX) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Barclays upped their price objective on Knight-Swift Transportation from $75.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Weiss Ratings raised Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. Stifel Nicolaus boosted their target price on Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group increased their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Robert W. Baird lifted their price target on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.53.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock opened at $77.30 on Tuesday. Knight-Swift Transportation has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $12.56 billion, a P/E ratio of 368.13, a price-to-earnings-growth ratio of 0.99 and a beta of 1.18. The firm’s fifty day moving average price is $71.82 and its 200-day moving average price is $62.39.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 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 firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the company earned $0.28 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts expect that Knight-Swift Transportation will post 2.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently made changes to their positions in KNX. Blue Trust Inc. lifted its stake in Knight-Swift Transportation by 123.9% in the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after acquiring an additional 301 shares during the period. Clearstead Advisors LLC boosted its holdings in Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 385 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in Knight-Swift Transportation by 1,478.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 828 shares during the period. Los Angeles Capital Management LLC purchased a new position in Knight-Swift Transportation during the 4th quarter valued at $39,000. Finally, Fifth Third Bancorp raised its holdings in Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.