Bank of America Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $92.00

Key Points

• Bank of America lowered Knight-Swift Transportation’s price target from $98 to $92 while maintaining a “buy” rating, implying roughly 37% upside from the reported $67.13 share price.
• Analyst sentiment remains favorable overall, with a consensus “Moderate Buy” rating and average price target of $83.95, despite one recent downgrade to “hold.”
• Knight-Swift exceeded quarterly expectations with EPS of $0.63 versus a $0.51 estimate and revenue of $2.10 billion; however, insiders sold more than $16.1 million of stock during the latest quarter.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its price objective cut by Bank of America from $98.00 to $92.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. Bank of America's price target suggests a potential upside of 37.04% from the stock's current price.

Several other research firms also recently commented on KNX. Wall Street Zen downgraded shares of Knight-Swift Transportation from a "buy" rating to a "hold" rating in a research note on Saturday, August 29th. Susquehanna boosted their target price on shares of Knight-Swift Transportation from $90.00 to $96.00 and gave the company a "positive" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group lifted their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Stephens upgraded shares of Knight-Swift Transportation to a "strong-buy" rating in a research report on Wednesday, July 8th. Finally, Stifel Nicolaus upped their target price on Knight-Swift Transportation from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.95.

Knight-Swift Transportation Stock Up 0.8%

KNX stock opened at $67.13 on Wednesday. Knight-Swift Transportation has a twelve month low of $38.63 and a twelve month high of $82.86. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 258.21, a P/E/G ratio of 0.55 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average price of $70.33 and a two-hundred day moving average price of $68.26.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.12. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.05 billion. Knight-Swift Transportation had a net margin of 0.56% and a return on equity of 3.51%. The company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.21 earnings per share. Knight-Swift Transportation has set its Q3 2026 guidance at 0.710-0.770 EPS. Analysts anticipate that Knight-Swift Transportation will post 2.49 EPS for the current fiscal year.

Insider Activity

In related news, CEO Reid Dove sold 126,864 shares of Knight-Swift Transportation stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $73.13, for a total value of $9,277,564.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Cary Flanagan sold 3,600 shares of the business's stock in a transaction on Friday, July 31st. The shares were sold at an average price of $70.82, for a total transaction of $254,952.00. Following the sale, the chief accounting officer owned 5,405 shares of the company's stock, valued at $382,782.10. This trade represents a 39.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 224,954 shares of company stock worth $16,183,454 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Several large investors have recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC purchased a new position in Knight-Swift Transportation during the second quarter valued at approximately $173,669,000. Norges Bank bought a new position in shares of Knight-Swift Transportation in the fourth quarter worth $92,070,000. Encompass Capital Advisors LLC bought a new position in shares of Knight-Swift Transportation in the first quarter worth $28,790,000. Baird Financial Group Inc. raised its position in shares of Knight-Swift Transportation by 152.4% in the second quarter. Baird Financial Group Inc. now owns 426,026 shares of the transportation company's stock worth $33,175,000 after buying an additional 257,256 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Knight-Swift Transportation by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,385,655 shares of the transportation company's stock valued at $72,442,000 after buying an additional 231,806 shares during the period. Institutional investors own 88.77% of the company's stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. Its operations include truckload transportation, less-than-truckload shipping, intermodal services and logistics solutions for commercial and industrial customers.

The company operates a large fleet of tractors and trailers and offers dedicated and irregular-route truckload services, freight brokerage and supply-chain support. Its less-than-truckload business transports smaller shipments through regional and national networks, while its intermodal operations combine rail and highway transportation.

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