Knight-Swift Transportation (NYSE:KNX)'s stock had its "neutral" rating reissued by equities research analysts at Susquehanna in a research note issued to investors on Monday, Benzinga reports. They presently have a $53.00 price target on the transportation company's stock. Susquehanna's target price suggests a potential upside of 5.70% from the stock's current price.
KNX has been the topic of several other research reports. Knight Equity upgraded shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and upped their price objective for the company from $46.00 to $52.00 in a report on Thursday, March 4th. KCG raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $46.00 to $52.00 in a research report on Thursday, March 4th. UBS Group reissued a "neutral" rating and set a $49.00 target price (up from $47.00) on shares of Knight-Swift Transportation in a research report on Wednesday, March 17th. Wolfe Research downgraded shares of Knight-Swift Transportation from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 7th. Finally, Cowen boosted their target price on shares of Knight-Swift Transportation from $47.00 to $52.00 and gave the stock a "market perform" rating in a research report on Thursday, January 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company's stock. The company presently has an average rating of "Buy" and an average price target of $50.70.
KNX stock opened at $50.14 on Monday. The firm has a market cap of $8.31 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 0.87 and a beta of 1.19. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.04. Knight-Swift Transportation has a 12-month low of $34.58 and a 12-month high of $50.63. The company's fifty day simple moving average is $46.71 and its 200 day simple moving average is $42.81.
Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 27th. The transportation company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.03. Knight-Swift Transportation had a net margin of 7.30% and a return on equity of 6.97%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.55 earnings per share. Knight-Swift Transportation's revenue for the quarter was up 6.8% on a year-over-year basis. Research analysts expect that Knight-Swift Transportation will post 2.65 earnings per share for the current year.
In other Knight-Swift Transportation news, Vice Chairman Gary J. Knight sold 50,000 shares of the firm's stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $49.00, for a total value of $2,450,000.00. Following the sale, the insider now owns 10,285 shares of the company's stock, valued at approximately $503,965. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 49,600 shares of the firm's stock in a transaction on Friday, April 9th. The stock was sold at an average price of $50.06, for a total transaction of $2,482,976.00. Following the completion of the sale, the chairman now directly owns 5,509 shares in the company, valued at approximately $275,780.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,600 shares of company stock worth $9,882,976. 27.50% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the business. Country Trust Bank grew its holdings in Knight-Swift Transportation by 39.8% in the 1st quarter. Country Trust Bank now owns 708,973 shares of the transportation company's stock worth $34,095,000 after acquiring an additional 201,872 shares during the last quarter. NEXT Financial Group Inc grew its holdings in Knight-Swift Transportation by 10.7% in the 1st quarter. NEXT Financial Group Inc now owns 2,582 shares of the transportation company's stock worth $124,000 after acquiring an additional 250 shares during the last quarter. New England Research & Management Inc. grew its holdings in Knight-Swift Transportation by 33.2% in the 1st quarter. New England Research & Management Inc. now owns 37,400 shares of the transportation company's stock worth $1,799,000 after acquiring an additional 9,325 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Knight-Swift Transportation by 6.2% in the 1st quarter. Retirement Systems of Alabama now owns 339,746 shares of the transportation company's stock worth $16,338,000 after acquiring an additional 19,768 shares during the last quarter. Finally, DnB Asset Management AS grew its holdings in Knight-Swift Transportation by 47.6% in the 1st quarter. DnB Asset Management AS now owns 39,261 shares of the transportation company's stock worth $1,888,000 after acquiring an additional 12,669 shares during the last quarter. 86.80% of the stock is currently owned by institutional investors and hedge funds.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.
Featured Article: S&P/TSX Index
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is an Initial Coin Offering (ICO)?7 Precious Metals Stocks That Will Keep Your Portfolio On Trend
The growing acceptance of cryptocurrency is beginning to make mainstream investors rethink their idea of “store of value.” The trendy possibilities of Bitcoin, Ethereum, and any of the dozens of altcoins that exist on the blockchain are trending like the latest fashion.
However, the thing about fashion is that the more things change the more things stay the same. Just like the simple black dress that won’t go out of fashion, the same can be said for precious metals stocks. One way to think about it would be to say that the existence of a growing cryptocurrency market doesn’t change the value of precious metals.
Precious metals have long been known to be a safe-haven asset in times of market volatility and economic crisis. In fact, during the Covid-19 pandemic, gold prices surged about 30% breaking the $2,000 mark for the first time in its history. This was at a time when the prices of many cryptocurrencies were falling.
And precious metals have also been seen as a hedge against inflation, which seems like more of a certainty with the Federal Reserve’s pledge to keep interest rates at historically low rates into 2023.
Whether you’re looking to take your first steps at crafting a precious metals portfolio or if you want to fine-tune the one you have, we believe this special presentation is a good place to start your research. We’ve identified seven precious metals stocks that look to retain their allure in 2021.
View the "7 Precious Metals Stocks That Will Keep Your Portfolio On Trend"