Knight-Swift Transportation Holdings Inc (NYSE:KNX) Given Consensus Recommendation of “Buy” by Analysts

Knight-Swift Transportation Holdings Inc (NYSE:KNX) has been assigned a consensus recommendation of “Buy” from the eighteen research firms that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $41.67.

Several research firms recently issued reports on KNX. TheStreet raised Knight-Swift Transportation from a “c+” rating to a “b” rating in a research note on Friday, April 24th. Loop Capital raised their target price on Knight-Swift Transportation from $46.00 to $49.00 in a research note on Tuesday, June 23rd. Cowen cut their target price on Knight-Swift Transportation from $38.00 to $33.00 and set a “market perform” rating on the stock in a research note on Thursday, April 23rd. KeyCorp raised their price objective on shares of Knight-Swift Transportation from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Finally, UBS Group raised their price objective on shares of Knight-Swift Transportation from $38.00 to $41.00 and gave the stock a “buy” rating in a report on Thursday, April 23rd.

In related news, Chairman Kevin P. Knight sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $42.24, for a total transaction of $4,224,000.00. Following the completion of the sale, the chairman now owns 3,317 shares of the company’s stock, valued at $140,110.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Gary J. Knight sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $40.39, for a total transaction of $2,019,500.00. The disclosure for this sale can be found here. Insiders have sold 344,035 shares of company stock valued at $13,309,714 over the last quarter. Company insiders own 27.50% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp increased its position in shares of Knight-Swift Transportation by 1.7% during the first quarter. State Street Corp now owns 4,338,873 shares of the transportation company’s stock valued at $142,315,000 after acquiring an additional 72,324 shares in the last quarter. New Mexico Educational Retirement Board increased its position in shares of Knight-Swift Transportation by 36.3% during the first quarter. New Mexico Educational Retirement Board now owns 29,300 shares of the transportation company’s stock valued at $961,000 after acquiring an additional 7,800 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Knight-Swift Transportation by 10.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 8,400 shares of the transportation company’s stock valued at $276,000 after acquiring an additional 800 shares in the last quarter. Guggenheim Capital LLC grew its position in Knight-Swift Transportation by 3.2% in the 1st quarter. Guggenheim Capital LLC now owns 328,721 shares of the transportation company’s stock worth $10,782,000 after purchasing an additional 10,120 shares during the period. Finally, Optimal Asset Management Inc. bought a new stake in Knight-Swift Transportation in the 1st quarter worth approximately $544,000. 85.79% of the stock is owned by institutional investors.

Shares of NYSE:KNX traded up $0.87 on Friday, reaching $42.02. 1,261,211 shares of the company traded hands, compared to its average volume of 2,185,629. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $7.14 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 1.64 and a beta of 1.36. Knight-Swift Transportation has a 52 week low of $27.54 and a 52 week high of $43.03. The business’s 50-day simple moving average is $40.40 and its 200 day simple moving average is $36.78.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Knight-Swift Transportation had a return on equity of 6.28% and a net margin of 6.02%. Knight-Swift Transportation’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. Sell-side analysts expect that Knight-Swift Transportation will post 1.71 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, June 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. Knight-Swift Transportation’s payout ratio is 14.75%.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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