Knight-Swift Transportation (NYSE:KNX) PT Raised to $53.00

Knight-Swift Transportation (NYSE:KNX) had its price target hoisted by Wells Fargo & Company from $51.00 to $53.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 33.77% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research note on Monday, July 27th. Credit Suisse Group boosted their price target on shares of Knight-Swift Transportation from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Barclays boosted their price target on shares of Knight-Swift Transportation from $52.00 to $54.00 in a research note on Friday, October 16th. ValuEngine downgraded shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Saturday, October 17th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Knight-Swift Transportation from $45.00 to $59.00 in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $49.78.

Shares of NYSE KNX opened at $39.62 on Thursday. Knight-Swift Transportation has a 1-year low of $27.54 and a 1-year high of $47.44. The company has a market cap of $6.74 billion, a PE ratio of 23.58, a P/E/G ratio of 1.18 and a beta of 1.21. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $42.49 and a two-hundred day moving average of $41.16.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 21st. The transportation company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.16. Knight-Swift Transportation had a net margin of 6.28% and a return on equity of 6.14%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that Knight-Swift Transportation will post 2.31 earnings per share for the current year.

In related news, Director Michael Garnreiter sold 5,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $47.25, for a total transaction of $236,250.00. Following the completion of the transaction, the director now owns 9,318 shares in the company, valued at $440,275.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shannon Breen sold 2,396 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $44.23, for a total transaction of $105,975.08. The disclosure for this sale can be found here. Insiders sold 47,232 shares of company stock valued at $2,206,280 in the last quarter. Corporate insiders own 4.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in KNX. Public Employees Retirement Association of Colorado boosted its holdings in Knight-Swift Transportation by 32.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 18,336 shares of the transportation company’s stock worth $601,000 after purchasing an additional 4,517 shares during the last quarter. Two Sigma Advisers LP bought a new stake in Knight-Swift Transportation during the first quarter worth $2,490,000. Advisor Group Holdings Inc. bought a new stake in Knight-Swift Transportation during the first quarter worth $342,000. FDx Advisors Inc. bought a new stake in Knight-Swift Transportation during the first quarter worth $522,000. Finally, The Manufacturers Life Insurance Company raised its position in Knight-Swift Transportation by 2.0% during the first quarter. The Manufacturers Life Insurance Company now owns 177,140 shares of the transportation company’s stock worth $5,810,000 after acquiring an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 84.35% 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 six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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