Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $85.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target on Knight-Swift Transportation from $70 to $85 and kept a buy rating, implying about 13.27% upside from the current price.
• Other analysts have also turned more positive on KNX, with several firms lifting targets and ratings; the stock now has a consensus Buy rating and an average price target of $79.88.
• Knight-Swift shares were trading slightly lower on the day, and the company recently reported earnings below expectations with $0.09 EPS versus $0.29 expected, though revenue matched estimates at $1.85 billion.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its target price increased by equities researchers at Stifel Nicolaus from $70.00 to $85.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the transportation company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 13.27% from the company's current price.

A number of other research firms also recently commented on KNX. Raymond James Financial upped their price objective 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. UBS Group boosted their target price on Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a "buy" rating in a research report on Monday, June 1st. The Goldman Sachs Group upped their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Susquehanna upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "positive" rating and set a $90.00 price target on the stock in a research report on Tuesday, June 2nd. Finally, TD Cowen lifted their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a "buy" rating in a research note on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of "Buy" and an average price target of $79.88.

Knight-Swift Transportation Trading Down 0.2%

KNX opened at $75.04 on Monday. The firm has a 50 day simple moving average of $73.34 and a 200 day simple moving average of $63.50. Knight-Swift Transportation has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The company has a market cap of $12.19 billion, a price-to-earnings ratio of 357.37, a price-to-earnings-growth ratio of 0.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70.

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

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds have recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its stake in Knight-Swift Transportation by 23.3% in the first 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 during the period. Focus Partners Wealth bought a new position in shares of Knight-Swift Transportation during the 1st quarter worth approximately $451,000. Cetera Investment Advisers increased its holdings in shares of Knight-Swift Transportation by 6.9% during the 2nd quarter. Cetera Investment Advisers now owns 13,724 shares of the transportation company's stock worth $607,000 after acquiring an additional 882 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Knight-Swift Transportation by 57.7% during the 2nd quarter. Invesco Ltd. now owns 1,087,719 shares of the transportation company's stock worth $48,110,000 after acquiring an additional 398,116 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Knight-Swift Transportation by 54.3% in 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 during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.

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