Knight-Swift Transportation (NYSE:KNX) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Knight-Swift Transportation from “hold” to “buy.” The stock has a consensus “Moderate Buy” rating and an average price target of $83.22.
• Knight-Swift reported quarterly earnings of $0.83 per share, beating estimates of $0.76, while revenue reached $2.20 billion and rose 14.2% year over year.
• Shares opened at $60.65, down 0.8%, while insiders sold approximately $12.4 million worth of stock over the past three months; institutional investors own 88.77% of the company.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

KNX has been the topic of several other reports. Bank of America lowered their target price on Knight-Swift Transportation from $98.00 to $92.00 and set a "buy" rating on the stock in a research report on Wednesday, September 23rd. UBS Group reiterated a "buy" rating on shares of Knight-Swift Transportation in a research report on Thursday, October 22nd. Stephens raised Knight-Swift Transportation to a "strong-buy" rating in a research note on Wednesday, July 8th. TD Cowen raised their price target on Knight-Swift Transportation from $82.00 to $86.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Finally, Citizens Jmp started coverage on shares of Knight-Swift Transportation in a research note on Wednesday, July 15th. They set a "market outperform" rating and a $90.00 price objective on the stock. Two investment 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.22.

Knight-Swift Transportation Trading Down 0.8%

Knight-Swift Transportation stock opened at $60.65 on Friday. Knight-Swift Transportation has a 52-week low of $41.24 and a 52-week high of $82.86. The company has a quick ratio of 0.88, a current ratio of 0.91 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 29.54, a PEG ratio of 0.50 and a beta of 1.21. The firm has a 50-day moving average price of $65.80 and a two-hundred day moving average price of $65.94.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.83 EPS 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 analyst estimates of $2.16 billion. Knight-Swift Transportation had a net margin of 1.92% and a return on equity of 4.71%. Knight-Swift Transportation's revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. Sell-side analysts expect that Knight-Swift Transportation will post 2.45 earnings per share for the current year.

Insider Activity at Knight-Swift Transportation

In related news, 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 transaction of $9,277,564.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David Vander Ploeg sold 2,200 shares of the company'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 completion of the sale, the director owned 30,252 shares of the company's stock, valued at $1,583,087.16. This trade represents a 6.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 171,354 shares of company stock worth $12,416,002. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Knight-Swift Transportation

Several institutional investors have recently modified their holdings of KNX. Public Employees Retirement System of Ohio bought a new stake in shares of Knight-Swift Transportation during the 2nd quarter worth $3,811,000. Engineers Gate Manager LP grew its holdings in shares of Knight-Swift Transportation by 54.3% in the 2nd quarter. Engineers Gate Manager LP now owns 175,244 shares of the transportation company's stock worth $13,646,000 after acquiring an additional 61,706 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Knight-Swift Transportation by 3.1% during the first quarter. California Public Employees Retirement System now owns 291,883 shares of the transportation company's stock worth $16,807,000 after purchasing an additional 8,653 shares during the period. Great Lakes Advisors LLC acquired a new stake in shares of Knight-Swift Transportation during the second quarter worth $8,790,000. Finally, First Trust Advisors LP lifted its holdings in shares of Knight-Swift Transportation by 36.1% during the first quarter. First Trust Advisors LP now owns 523,801 shares of the transportation company's stock valued at $30,160,000 after purchasing an additional 138,949 shares during the last quarter. Institutional investors and hedge funds 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. 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.

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