Knight-Swift Transportation (NYSE:KNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Knight-Swift Transportation (NYSE:KNX) from a hold rating to a buy rating in a research note released on Saturday,Wall Street Zen reports.

Several other analysts have also recently commented on KNX. UBS Group restated a “buy” rating on shares of Knight-Swift Transportation in a report on Thursday, October 22nd. Susquehanna upped their price objective on shares of Knight-Swift Transportation from $85.00 to $93.00 and gave the company a “positive” rating in a research note on Monday, October 26th. Benchmark increased their target price on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Sanford C. Bernstein initiated coverage on shares of Knight-Swift Transportation in a research report on Thursday, September 10th. They issued an “outperform” rating and a $91.00 target price for the company. Finally, Wells Fargo & Company decreased their target price on shares of Knight-Swift Transportation from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and a consensus price target of $83.22.

Knight-Swift Transportation Stock Up 1.6%

Shares of Knight-Swift Transportation stock opened at $61.71 on Friday. The stock has a 50-day moving average price of $65.60 and a 200 day moving average price of $65.96. The company has a market cap of $10.04 billion, a P/E ratio of 29.40, a P/E/G ratio of 0.50 and a beta of 1.21. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation has a 1 year low of $41.24 and a 1 year high of $82.86.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 21st. The transportation company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.32 EPS. As a group, analysts expect that Knight-Swift Transportation will post 2.45 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. Knight-Swift Transportation’s payout ratio is currently 86.02%.

Insider Activity

In related news, Director David Vander Ploeg sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total value of $115,126.00. Following the transaction, the director directly owned 30,252 shares of the company’s stock, valued at approximately $1,583,087.16. This trade represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Reid Dove sold 126,864 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $73.13, for a total value of $9,277,564.32. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 171,354 shares of company stock valued at $12,416,002. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after buying an additional 301 shares during the period. MCF Advisors LLC raised its holdings in Knight-Swift Transportation by 55.8% in the 2nd quarter. MCF Advisors LLC now owns 676 shares of the transportation company’s stock worth $53,000 after acquiring an additional 242 shares during the period. Provenance Wealth Advisors LLC bought a new position in Knight-Swift Transportation in the 3rd quarter worth $53,000. Heritage Family Offices LLP bought a new position in Knight-Swift Transportation in the 3rd quarter worth $66,000. Finally, Harbor Investment Advisory LLC acquired a new position in Knight-Swift Transportation during the 1st quarter worth $72,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.