Knight-Swift Transportation (NYSE:KNX) had its target price boosted by equities research analysts at UBS Group from $50.00 to $51.00 in a research note issued on Thursday, Briefing.com reports. The firm currently has a "neutral" rating on the transportation company's stock. UBS Group's price objective indicates a potential upside of 5.07% from the stock's previous close.
KNX has been the topic of several other reports. Stifel Europe assumed coverage on Knight-Swift Transportation in a research note on Monday, June 21st. They issued a "buy" rating on the stock. They noted that the move was a valuation call. Zacks Investment Research raised Knight-Swift Transportation from a "hold" rating to a "buy" rating and set a $52.00 price objective on the stock in a research note on Tuesday, April 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Knight-Swift Transportation from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday. Susquehanna Bancshares lowered Knight-Swift Transportation to a "neutral" rating and set a $53.00 price objective on the stock. in a research note on Monday, April 12th. Finally, Citigroup increased their target price on Knight-Swift Transportation from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Wednesday, July 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of "Hold" and a consensus price target of $54.73.
Shares of KNX traded up $1.28 during trading hours on Thursday, hitting $48.54. 42,969 shares of the company were exchanged, compared to its average volume of 1,780,421. The stock has a market capitalization of $8.03 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31. Knight-Swift Transportation has a fifty-two week low of $37.07 and a fifty-two week high of $51.17. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The business's fifty day simple moving average is $47.43.
Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Tuesday, July 20th. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Knight-Swift Transportation had a return on equity of 9.02% and a net margin of 9.94%. Knight-Swift Transportation's quarterly revenue was up 24.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Analysts expect that Knight-Swift Transportation will post 3.68 EPS for the current fiscal year.
In other Knight-Swift Transportation news, EVP James E. Jr. Updike sold 2,250 shares of Knight-Swift Transportation stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $48.85, for a total value of $109,912.50. Following the completion of the sale, the executive vice president now directly owns 15,270 shares in the company, valued at $745,939.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 27.50% of the company's stock.
A number of hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc increased its holdings in Knight-Swift Transportation by 10.7% in the first quarter. NEXT Financial Group Inc now owns 2,582 shares of the transportation company's stock worth $124,000 after purchasing an additional 250 shares in the last quarter. Ellevest Inc. grew its stake in Knight-Swift Transportation by 28.5% in the first quarter. Ellevest Inc. now owns 1,173 shares of the transportation company's stock valued at $56,000 after acquiring an additional 260 shares during the period. CWM LLC grew its stake in Knight-Swift Transportation by 53.8% in the first quarter. CWM LLC now owns 929 shares of the transportation company's stock valued at $45,000 after acquiring an additional 325 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Knight-Swift Transportation by 15.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,645 shares of the transportation company's stock valued at $127,000 after acquiring an additional 349 shares during the period. Finally, Meiji Yasuda Life Insurance Co grew its stake in Knight-Swift Transportation by 3.2% in the first quarter. Meiji Yasuda Life Insurance Co now owns 12,815 shares of the transportation company's stock valued at $616,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 86.46% of the company's stock.
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.
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