Knight-Swift Transportation (NYSE:KNX) Given New $77.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised its price target on Knight-Swift Transportation from $70 to $77, while keeping a neutral rating on the stock.
• Other analysts were more bullish: Citigroup, Benchmark, TD Cowen, Stephens, and Raymond James all issued higher targets and/or stronger ratings, giving KNX a consensus Buy with an average price target of $79.
• Despite the upbeat analyst sentiment, Knight-Swift shares fell to $75.67 on Friday; the company also recently reported earnings below estimates with EPS of $0.09 versus $0.29 expected.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its price objective upped by analysts at JPMorgan Chase & Co. from $70.00 to $77.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 1.75% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Citigroup raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and set a $90.00 price objective on the stock in a report on Thursday. Benchmark lifted their target price on shares of Knight-Swift Transportation from $75.00 to $90.00 and gave the company a "buy" rating in a report on Thursday. TD Cowen lifted their price target on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, April 23rd. Stephens upgraded shares of Knight-Swift Transportation to a "strong-buy" rating in a research report on Wednesday. Finally, Raymond James Financial increased their target price on Knight-Swift Transportation from $76.00 to $91.00 and gave the company a "strong-buy" rating in a report on Thursday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $79.00.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock traded down $1.50 during trading hours on Friday, reaching $75.67. The company's stock had a trading volume of 1,385,505 shares, compared to its average volume of 3,678,533. The firm has a 50 day moving average price of $73.11 and a 200-day moving average price of $63.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market cap of $12.30 billion, a P/E ratio of 360.82, a P/E/G ratio of 0.94 and a beta of 1.18. Knight-Swift Transportation has a one year low of $38.63 and a one year high of $82.86.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the prior year, the firm posted $0.28 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts predict that Knight-Swift Transportation will post 2.18 EPS for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC lifted its stake in Knight-Swift Transportation by 23.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 5,948 shares of the transportation company's stock valued at $259,000 after buying an additional 1,124 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Knight-Swift Transportation during the 1st quarter worth $451,000. Cetera Investment Advisers raised its holdings in shares of Knight-Swift Transportation by 6.9% in the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company's stock worth $607,000 after purchasing an additional 882 shares during the period. Invesco Ltd. lifted its position in Knight-Swift Transportation by 57.7% during the second quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company's stock valued at $48,110,000 after buying an additional 398,116 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Knight-Swift Transportation by 54.3% during the 2nd quarter. First Trust Advisors LP now owns 491,702 shares of the transportation company's stock valued at $21,748,000 after acquiring an additional 172,956 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.