Citigroup Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

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

Other research analysts have also recently issued research reports about the stock. Evercore ISI reduced their target price on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a report on Thursday, April 24th. UBS Group reduced their target price on shares of Knight-Swift Transportation from $63.00 to $46.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company increased their target price on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. TD Securities reduced their target price 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. Finally, The Goldman Sachs Group upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and increased their price target for the company from $45.00 to $65.00 in a research note on Monday, June 2nd. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $53.25.

Knight-Swift Transportation Stock Up 1.6%

Shares of KNX stock traded up $0.73 during trading hours on Wednesday, hitting $47.76. 2,788,545 shares of the company were exchanged, compared to its average volume of 2,407,858. The business has a 50 day moving average of $44.21 and a two-hundred day moving average of $47.27. 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 has a 52 week low of $36.69 and a 52 week high of $61.51. The company has a market capitalization of $7.74 billion, a PE ratio of 50.81, a PEG ratio of 0.70 and a beta of 1.17.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings data 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. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. The firm's revenue was up 1.3% compared to the same quarter last year. Analysts anticipate that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Monday, June 9th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Monday, June 9th. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds have recently modified their holdings of the stock. Voya Investment Management LLC lifted its stake in shares of Knight-Swift Transportation by 0.9% during the 4th quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company's stock worth $1,090,000 after buying an additional 192 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Knight-Swift Transportation by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company's stock worth $355,000 after buying an additional 216 shares during the last quarter. Signaturefd LLC increased its position in Knight-Swift Transportation by 8.5% during the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company's stock worth $147,000 after acquiring an additional 218 shares during the period. Bessemer Group Inc. increased its position in 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 acquiring an additional 222 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Knight-Swift Transportation by 2.5% during the fourth quarter. Daiwa Securities Group Inc. now owns 12,497 shares of the transportation company's stock worth $663,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds 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.