Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $60.00 at JPMorgan Chase & Co.

Knight-Swift Transportation (NYSE:KNX - Free Report) had its price objective lowered by JPMorgan Chase & Co. from $62.00 to $60.00 in a research note issued to investors on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company's stock.

A number of other brokerages have also issued reports on KNX. Susquehanna dropped their target price on Knight-Swift Transportation from $62.00 to $59.00 and set a neutral rating on the stock in a research report on Monday, March 25th. Stifel Nicolaus increased their target price on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a research note on Wednesday, January 10th. Finally, Barclays dropped their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating for the company in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $62.75.

Knight-Swift Transportation Stock Up 0.9 %

NYSE KNX traded up $0.50 on Tuesday, reaching $53.64. The company had a trading volume of 1,362,904 shares, compared to its average volume of 1,968,509. The firm has a market capitalization of $8.66 billion, a PE ratio of 40.33, a P/E/G ratio of 1.44 and a beta of 0.99. The firm has a 50-day moving average of $56.07 and a 200-day moving average of $54.24. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The firm had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.92 billion. On average, equities research analysts anticipate that Knight-Swift Transportation will post 2.47 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. This is a positive change from Knight-Swift Transportation's previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation's payout ratio is presently 48.12%.

Insider Buying and Selling at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently modified their holdings of KNX. Vanguard Group Inc. raised its position in shares of Knight-Swift Transportation by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company's stock worth $750,459,000 after buying an additional 54,133 shares in the last quarter. Nordea Investment Management AB raised its holdings in Knight-Swift Transportation by 4.5% during the third quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company's stock worth $62,950,000 after purchasing an additional 54,076 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Knight-Swift Transportation by 22.6% in the third quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company's stock worth $10,328,000 after purchasing an additional 37,934 shares during the period. Assenagon Asset Management S.A. boosted its stake in Knight-Swift Transportation by 3,637.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company's stock valued at $10,701,000 after purchasing an additional 180,659 shares in the last quarter. Finally, Comerica Bank acquired a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at $4,674,000. 88.77% of the stock is currently owned by institutional investors.

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.