Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $55.00 at Barclays

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its price objective reduced by research analysts at Barclays from $58.00 to $55.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the transportation company's stock. Barclays's target price would suggest a potential upside of 12.92% from the stock's previous close.

A number of other analysts have also recently weighed in on the stock. TD Securities 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. Susquehanna increased their target price on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a "positive" rating in a report on Tuesday, June 24th. Robert W. Baird assumed coverage on shares of Knight-Swift Transportation in a report on Tuesday, July 1st. They set an "outperform" rating and a $55.00 target price on the stock. Bank of America increased their target price on shares of Knight-Swift Transportation from $43.00 to $48.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, UBS Group dropped their price objective on shares of 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 issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $53.06.

Knight-Swift Transportation Stock Up 2.3%

Shares of NYSE:KNX traded up $1.09 during midday trading on Thursday, reaching $48.71. The company had a trading volume of 1,333,639 shares, compared to its average volume of 2,403,897. 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 stock's fifty day moving average price is $44.21 and its 200-day moving average price is $47.27. The stock has a market capitalization of $7.89 billion, a P/E ratio of 51.93, a PEG ratio of 0.70 and a beta of 1.17. Knight-Swift Transportation has a one year low of $36.69 and a one year high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The company had revenue of $1.82 billion for the quarter, compared to analysts' expectations 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 company earned $0.12 earnings per share. Equities research analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

Large investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in Knight-Swift Transportation by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,175,335 shares of the transportation company's stock valued at $62,340,000 after buying an additional 28,387 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Knight-Swift Transportation during the fourth quarter valued at approximately $749,000. Raymond James Financial Inc. bought a new position in shares of Knight-Swift Transportation in the fourth quarter valued at approximately $15,111,000. PNC Financial Services Group Inc. raised its position in shares of Knight-Swift Transportation by 57.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 81,799 shares of the transportation company's stock valued at $4,339,000 after purchasing an additional 29,824 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Knight-Swift Transportation by 39.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 143,475 shares of the transportation company's stock worth $7,610,000 after acquiring an additional 40,782 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

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.

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