Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Knight-Swift Transportation (NYSE:KNX - Free Report) had its price target increased by Wells Fargo & Company from $46.00 to $50.00 in a report published on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the transportation company's stock.

KNX has been the subject of several other research reports. Bank of America increased their price objective on Knight-Swift Transportation from $43.00 to $48.00 and gave the company a "neutral" rating in a report on Friday, May 16th. TD Securities cut their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup raised Knight-Swift Transportation from a "neutral" rating to a "buy" rating and cut their price target for the company from $53.00 to $48.00 in a report on Tuesday, April 8th. Benchmark reaffirmed a "buy" rating and set a $63.00 price target on shares of Knight-Swift Transportation in a report on Monday, April 14th. Finally, Susquehanna cut their price target on Knight-Swift Transportation from $54.00 to $45.00 and set a "positive" rating for the company in a report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $51.33.

Knight-Swift Transportation Stock Up 0.3%

Shares of KNX traded up $0.13 during mid-day trading on Wednesday, hitting $44.34. 2,831,935 shares of the company's stock were exchanged, compared to its average volume of 2,338,382. The company has a market cap of $7.19 billion, a PE ratio of 60.74 and a beta of 1.18. Knight-Swift Transportation has a 52 week low of $36.69 and a 52 week high of $61.51. The company has a 50-day simple moving average of $41.95 and a 200 day simple moving average of $49.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.83 billion. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the business earned $0.12 EPS. On average, research analysts forecast that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Monday, June 9th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Monday, June 9th. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.

Insider Activity

In other news, Director Douglas L. Col purchased 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the purchase, the director now owns 5,000 shares of the company's stock, valued at $226,850. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.00% of the company's stock.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC boosted its stake in shares of Knight-Swift Transportation by 0.9% during the fourth quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company's stock valued at $1,090,000 after purchasing an additional 192 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Knight-Swift Transportation by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company's stock worth $355,000 after acquiring an additional 216 shares during the period. Signaturefd LLC boosted its holdings in Knight-Swift Transportation by 8.5% in the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company's stock valued at $147,000 after acquiring an additional 218 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Knight-Swift Transportation by 6.1% in the fourth quarter. Bessemer Group Inc. now owns 3,882 shares of the transportation company's stock valued at $206,000 after acquiring an additional 222 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in Knight-Swift Transportation by 4.6% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,301 shares of the transportation company's stock valued at $281,000 after acquiring an additional 235 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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.