The Goldman Sachs Group Forecasts Strong Price Appreciation for Knight-Swift Transportation (NYSE:KNX) Stock

Knight-Swift Transportation (NYSE:KNX) had its price target raised by equities research analysts at The Goldman Sachs Group from $65.00 to $86.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 14.51% from the stock’s previous close.

Several other equities research analysts have also recently commented on the stock. Weiss Ratings raised shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 15th. TD Cowen lifted their price target on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Benchmark upped their price objective on Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Barclays increased their price objective on Knight-Swift Transportation from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. Finally, Stifel Nicolaus boosted their target price on Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.65.

Knight-Swift Transportation Stock Down 0.4%

NYSE KNX traded down $0.30 during trading hours on Tuesday, reaching $75.10. 258,065 shares of the company’s stock were exchanged, compared to its average volume of 3,707,814. 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 company has a market capitalization of $12.20 billion, a price-to-earnings ratio of 358.55, a price-to-earnings-growth ratio of 0.95 and a beta of 1.18. The company’s 50-day moving average is $69.94 and its two-hundred day moving average is $61.14. Knight-Swift Transportation has a one year low of $38.63 and a one year high of $82.86.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results 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). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts forecast that Knight-Swift Transportation will post 2.14 EPS for the current fiscal year.

Institutional Investors Weigh In On Knight-Swift Transportation

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of Knight-Swift Transportation by 23.6% in the fourth quarter. Wellington Management Group LLP now owns 12,918,523 shares of the transportation company’s stock valued at $675,380,000 after buying an additional 2,468,293 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Knight-Swift Transportation by 0.9% in the third quarter. Victory Capital Management Inc. now owns 8,496,137 shares of the transportation company’s stock valued at $335,682,000 after acquiring an additional 76,342 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Knight-Swift Transportation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 8,458,088 shares of the transportation company’s stock valued at $486,995,000 after acquiring an additional 60,750 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Knight-Swift Transportation by 7.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,676,422 shares of the transportation company’s stock valued at $244,250,000 after acquiring an additional 315,192 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in shares of Knight-Swift Transportation by 50.4% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,939,212 shares of the transportation company’s stock worth $153,662,000 after purchasing an additional 984,422 shares during 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.