Raymond James Financial Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $55.00

Knight-Swift Transportation (NYSE:KNX - Get Free Report) had its price objective hoisted by Raymond James Financial from $50.00 to $55.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "strong-buy" rating on the transportation company's stock. Raymond James Financial's target price suggests a potential upside of 19.16% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Citigroup increased their price objective on shares of Knight-Swift Transportation from $53.00 to $54.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Susquehanna increased their price objective on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the company a "positive" rating in a report on Tuesday, June 24th. Barclays reduced their price target on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday, July 10th. Baird R W upgraded shares of Knight-Swift Transportation to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, TD Securities reduced their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Knight-Swift Transportation presently has an average rating of "Moderate Buy" and a consensus price target of $53.06.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX traded down $0.63 during trading hours on Tuesday, hitting $46.16. The stock had a trading volume of 623,526 shares, compared to its average volume of 2,409,372. The stock's fifty day simple moving average is $44.62 and its 200 day simple moving average is $47.06. Knight-Swift Transportation has a 1-year low of $36.69 and a 1-year high of $61.51. The firm has a market capitalization of $7.48 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 0.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.88 and a current ratio of 0.88.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter last year, the business earned $0.12 earnings per share. Knight-Swift Transportation's revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of institutional investors have recently modified their holdings of the stock. Bfsg LLC raised its stake in shares of Knight-Swift Transportation by 17.5% in the second quarter. Bfsg LLC now owns 32,099 shares of the transportation company's stock worth $1,420,000 after acquiring an additional 4,777 shares during the last quarter. CHICAGO TRUST Co NA bought a new position in shares of Knight-Swift Transportation in the second quarter worth about $224,000. GAMMA Investing LLC raised its stake in shares of Knight-Swift Transportation by 142.5% in the second quarter. GAMMA Investing LLC now owns 2,583 shares of the transportation company's stock worth $114,000 after acquiring an additional 1,518 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in shares of Knight-Swift Transportation by 7.7% in the second quarter. Wedge Capital Management L L P NC now owns 232,842 shares of the transportation company's stock worth $10,299,000 after acquiring an additional 16,717 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Knight-Swift Transportation by 43.3% during the 2nd quarter. UMB Bank n.a. now owns 1,624 shares of the transportation company's stock worth $72,000 after buying an additional 491 shares during the period. 88.77% of the stock is 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.

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