Knight-Swift Transportation (NYSE:KNX) Upgraded by Stephens to Strong-Buy Rating

Key Points

• Stephens upgraded Knight-Swift Transportation (NYSE: KNX) to a strong-buy rating, adding to a broadly positive analyst view of the stock.
• Other firms have recently raised their outlooks and price targets, including Benchmark, Raymond James, UBS, and TD Cowen. MarketBeat says the stock has an overall Buy consensus with an average target price of $77.18.
• KNX was up 1.0% to $75.08 in Wednesday trading, near its 12-month high of $82.86. The company recently missed earnings estimates, reporting $0.09 EPS versus $0.29 expected, though revenue matched forecasts.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) was upgraded by research analysts at Stephens to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research firms have also weighed in on KNX. Benchmark boosted their target price on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Raymond James Financial raised their price target on Knight-Swift Transportation from $76.00 to $91.00 and gave the company a "strong-buy" rating in a research report on Thursday, July 2nd. UBS Group boosted their price objective 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. Weiss Ratings raised Knight-Swift Transportation from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, April 15th. Finally, TD Cowen increased their price objective on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $77.18.

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Knight-Swift Transportation Stock Up 1.0%

KNX stock opened at $75.08 on Wednesday. Knight-Swift Transportation has a 12-month low of $38.63 and a 12-month high of $82.86. The company has a 50 day moving average of $72.87 and a two-hundred day moving average of $63.18. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a market cap of $12.20 billion, a price-to-earnings ratio of 357.53, a PEG ratio of 0.92 and a beta of 1.18.

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

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors have recently bought and sold shares of KNX. Blue Trust Inc. lifted its holdings in shares of Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company's stock worth $31,000 after acquiring an additional 301 shares during the period. Clearstead Advisors LLC increased its stake in 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 acquiring an additional 385 shares during the period. Los Angeles Capital Management LLC acquired a new position in Knight-Swift Transportation in the fourth quarter worth about $39,000. Fifth Third Bancorp raised its position in Knight-Swift Transportation by 44.4% in 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted 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. Institutional investors and hedge funds own 88.77% of the company's stock.

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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