Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $90.00

Key Points

• Benchmark raised its price target on Knight-Swift Transportation from $75 to $90 and kept a buy rating, implying about 16.5% upside from the stock’s current price.
• Several other analysts also turned more bullish, including Citigroup, Stephens, Susquehanna, and Zacks Research, while the stock now carries a consensus buy rating with an average target of $78.06.
• KNX shares rose 3% to $77.24 on Thursday, even after the company recently reported quarterly EPS of $0.09, which missed estimates, while revenue matched expectations at $1.85 billion.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its target price boosted by Benchmark from $75.00 to $90.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. Benchmark's price target suggests a potential upside of 16.52% from the company's current price.

KNX has been the subject of several other research reports. Citigroup raised Knight-Swift Transportation from a "neutral" rating to a "buy" rating and set a $90.00 price objective for the company in a report on Thursday. Stephens raised shares of Knight-Swift Transportation to a "strong-buy" rating in a report on Wednesday. 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. Zacks Research raised shares of Knight-Swift Transportation from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 30th. Finally, Robert W. Baird lifted their price target on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. 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's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $78.06.

Knight-Swift Transportation Stock Up 3.0%

Knight-Swift Transportation stock traded up $2.26 during trading hours on Thursday, reaching $77.24. The stock had a trading volume of 416,401 shares, compared to its average volume of 3,676,286. Knight-Swift Transportation has a 52 week low of $38.63 and a 52 week high of $82.86. The company has a market cap of $12.55 billion, a price-to-earnings ratio of 368.31, a PEG ratio of 0.92 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. The business's 50 day moving average price is $72.87 and its 200-day moving average price is $63.18.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The company's revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Sell-side analysts anticipate that Knight-Swift Transportation will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in Knight-Swift Transportation by 123.9% in the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company's stock valued at $31,000 after buying an additional 301 shares in the last quarter. Clearstead Advisors LLC grew its holdings in shares of Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company's stock valued at $35,000 after purchasing an additional 385 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Knight-Swift Transportation during the fourth quarter worth about $39,000. Fifth Third Bancorp raised its stake in Knight-Swift Transportation by 44.4% during the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company's stock worth $45,000 after purchasing an additional 267 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company's stock worth $35,000 after purchasing an additional 828 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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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