Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, Bank of America Analyst Says

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its target price lifted by equities research analysts at Bank of America from $47.00 to $49.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the transportation company's stock. Bank of America's price objective suggests a potential upside of 9.32% from the stock's current price.

KNX has been the topic of several other reports. Barclays cut their target price on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday, July 10th. TD Cowen cut 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. Baird R W upgraded shares of Knight-Swift Transportation to a "strong-buy" rating in a report on Tuesday, July 1st. Stifel Nicolaus cut their target price on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI cut their target price on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.88.

Knight-Swift Transportation Trading Down 1.6%

NYSE KNX traded down $0.73 during trading hours on Thursday, hitting $44.82. The company's stock had a trading volume of 3,685,707 shares, compared to its average volume of 2,731,452. The stock has a fifty day moving average of $44.80 and a 200 day moving average of $46.59. Knight-Swift Transportation has a twelve month low of $36.69 and a twelve month high of $61.51. The firm has a market capitalization of $7.26 billion, a P/E ratio of 43.94, a PEG ratio of 0.68 and a beta of 1.17. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. Knight-Swift Transportation had a net margin of 2.22% and a return on equity of 3.03%. The business had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $0.24 earnings per share. Knight-Swift Transportation's revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Institutional Trading of Knight-Swift Transportation

Hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC bought a new position in shares of Knight-Swift Transportation in the 4th quarter valued at about $424,000. Sei Investments Co. grew its position in shares of Knight-Swift Transportation by 7.6% in the 4th quarter. Sei Investments Co. now owns 365,021 shares of the transportation company's stock valued at $19,361,000 after acquiring an additional 25,786 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Knight-Swift Transportation in the 4th quarter valued at about $2,366,000. LPL Financial LLC grew its position in shares of Knight-Swift Transportation by 28.3% in the 4th quarter. LPL Financial LLC now owns 31,736 shares of the transportation company's stock valued at $1,683,000 after acquiring an additional 6,991 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of Knight-Swift Transportation by 20.0% in the 4th quarter. Prudential Financial Inc. now owns 25,364 shares of the transportation company's stock valued at $1,345,000 after acquiring an additional 4,227 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.