Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Receives Consensus Recommendation of “Buy” from Analysts

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) has been given an average rating of “Buy” by the nineteen brokerages that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and three have given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $79.00.

A number of research firms recently weighed in on KNX. Robert W. Baird boosted 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 report on Thursday, April 23rd. Citigroup upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Thursday. Weiss Ratings raised shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price on the stock in a report on Tuesday, June 2nd. Finally, UBS Group upped their price target on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, June 1st.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its position in shares of Knight-Swift Transportation by 23.6% during the 4th quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after acquiring an additional 2,468,293 shares during the last quarter. Invesco Ltd. increased its position in Knight-Swift Transportation by 513.6% during the fourth quarter. Invesco Ltd. now owns 2,416,865 shares of the transportation company’s stock worth $126,354,000 after purchasing an additional 2,022,996 shares during the last quarter. Norges Bank acquired a new stake in Knight-Swift Transportation during the fourth quarter worth about $92,070,000. Balyasny Asset Management L.P. raised its stake in Knight-Swift Transportation by 269.7% during the third quarter. Balyasny Asset Management L.P. now owns 2,231,439 shares of the transportation company’s stock worth $88,164,000 after purchasing an additional 1,627,791 shares during the period. Finally, Junto Capital Management LP raised its stake in Knight-Swift Transportation by 252.4% during the third quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock worth $89,377,000 after purchasing an additional 1,620,224 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $75.04 on Monday. The company’s fifty day moving average price is $73.34 and its 200 day moving average price is $63.50. Knight-Swift Transportation has a 1 year low of $38.63 and a 1 year high of $82.86. The stock has a market capitalization of $12.19 billion, a P/E ratio of 357.37, a P/E/G ratio of 0.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, equities research analysts anticipate that Knight-Swift Transportation will post 2.18 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

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

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.