Benchmark Raises Knight-Swift Transportation (NYSE:KNX) Price Target to $90.00

Knight-Swift Transportation (NYSE:KNX) had its price target increased by stock analysts at Benchmark from $75.00 to $90.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Benchmark’s price objective would suggest a potential upside of 19.93% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Stephens upgraded Knight-Swift Transportation to a “strong-buy” rating in a research report on Wednesday. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 target price for the company in a report on Thursday. Weiss Ratings upgraded shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. UBS Group increased their price target on shares of Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Wells Fargo & Company raised their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $79.00.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $75.04 on Thursday. Knight-Swift Transportation has a 52-week low of $38.63 and a 52-week high of $82.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The stock has a market cap of $12.19 billion, a PE ratio of 357.37, a price-to-earnings-growth ratio of 0.87 and a beta of 1.18. The business has a 50-day simple moving average of $73.34 and a 200-day simple moving average of $63.43.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate 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 firm’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the business earned $0.28 earnings per share. On average, equities analysts expect that Knight-Swift Transportation will post 2.18 EPS for the current year.

Institutional Inflows and Outflows

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

About Knight-Swift Transportation

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.