Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $54.00 at Citigroup

Knight-Swift Transportation (NYSE:KNX - Free Report) had its target price increased by Citigroup from $53.00 to $54.00 in a research note published on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the transportation company's stock.

Several other analysts have also recently issued reports on KNX. Raymond James Financial cut their target price on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating on the stock in a research note on Friday, April 11th. Bank of America raised their price objective 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. Susquehanna raised their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of Knight-Swift Transportation from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, TD Securities lowered their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Five 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 presently has a consensus rating of "Moderate Buy" and an average target price of $53.06.

Knight-Swift Transportation Trading Down 1.8%

Shares of NYSE:KNX traded down $0.88 on Wednesday, reaching $47.34. 1,577,700 shares of the company traded hands, compared to its average volume of 2,416,065. The business's 50-day simple moving average is $44.51 and its 200 day simple moving average is $47.20. Knight-Swift Transportation has a 52 week low of $36.69 and a 52 week high of $61.51. The stock has a market capitalization of $7.67 billion, a P/E ratio of 50.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.17. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 2.79% and a net margin of 2.04%. Knight-Swift Transportation's quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.12 earnings per share. As a group, equities analysts anticipate that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

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

Hedge Funds Weigh In On Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC raised its holdings in Knight-Swift Transportation by 7.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 232,842 shares of the transportation company's stock worth $10,299,000 after acquiring an additional 16,717 shares during the last quarter. UMB Bank n.a. raised its stake in Knight-Swift Transportation by 43.3% during the 2nd quarter. UMB Bank n.a. now owns 1,624 shares of the transportation company's stock valued at $72,000 after buying an additional 491 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new stake in Knight-Swift Transportation during the 2nd quarter valued at $55,000. NorthCrest Asset Manangement LLC purchased a new stake in Knight-Swift Transportation during the 2nd quarter valued at $286,000. Finally, Parallel Advisors LLC raised its stake in Knight-Swift Transportation by 86.0% during the 2nd quarter. Parallel Advisors LLC now owns 4,430 shares of the transportation company's stock valued at $196,000 after buying an additional 2,048 shares during 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, 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.