JPMorgan Chase & Co. Issues Pessimistic Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX - Free Report) had its price objective reduced by JPMorgan Chase & Co. from $46.00 to $45.00 in a research note released on Tuesday,Benzinga reports. They currently have a neutral rating on the transportation company's stock.

KNX has been the subject of a number of other research reports. Robert W. Baird assumed coverage on Knight-Swift Transportation in a research report on Tuesday, July 1st. They set an "outperform" rating and a $55.00 price objective for the company. TD Cowen dropped their target price on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Bank of America raised their target price on Knight-Swift Transportation from $43.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Evercore ISI dropped their price objective on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. Finally, UBS Group decreased their price objective on Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating on the stock in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $53.06.

Knight-Swift Transportation Stock Down 1.8%

Knight-Swift Transportation stock traded down $0.88 during mid-day trading on Tuesday, hitting $47.34. The company's stock had a trading volume of 1,577,700 shares, compared to its average volume of 2,416,065. Knight-Swift Transportation has a 52-week low of $36.69 and a 52-week high of $61.51. The company has a market cap of $7.67 billion, a PE ratio of 50.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. The firm's 50 day moving average is $44.51 and its 200 day moving average is $47.20.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The firm's revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, analysts anticipate that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend was Monday, June 9th. Knight-Swift Transportation's dividend payout ratio is currently 76.60%.

Institutional Trading of Knight-Swift Transportation

Large investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in shares of Knight-Swift Transportation by 0.9% in the 4th quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company's stock worth $1,090,000 after acquiring an additional 192 shares in the last quarter. Benjamin Edwards Inc. raised its position in Knight-Swift Transportation by 3.3% in the 4th quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company's stock valued at $355,000 after purchasing an additional 216 shares during the last quarter. Signaturefd LLC boosted its stake in Knight-Swift Transportation by 8.5% in the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company's stock worth $147,000 after purchasing an additional 218 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Knight-Swift Transportation by 6.1% during the fourth quarter. Bessemer Group Inc. now owns 3,882 shares of the transportation company's stock worth $206,000 after purchasing an additional 222 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Knight-Swift Transportation by 2.5% in the fourth quarter. Daiwa Securities Group Inc. now owns 12,497 shares of the transportation company's stock valued at $663,000 after buying an additional 300 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.