Stifel Nicolaus Trims Knight-Swift Transportation (NYSE:KNX) Target Price to $53.00

Knight-Swift Transportation (NYSE:KNX) had its target price dropped by analysts at Stifel Nicolaus from $60.00 to $53.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 11.56% from the stock’s current price.

KNX has been the topic of several other research reports. JPMorgan Chase & Co. lowered their price target on Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Tuesday, April 9th. Stephens lowered their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday. Bank of America reduced their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday. Loop Capital cut Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their price objective for the company from $63.00 to $53.00 in a report on Thursday. Finally, Susquehanna cut their price objective on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.77.

Knight-Swift Transportation Stock Down 2.1 %

NYSE:KNX traded down $1.02 during mid-day trading on Thursday, reaching $47.51. The stock had a trading volume of 2,588,656 shares, compared to its average volume of 2,080,699. The business’s 50 day moving average is $55.07 and its 200 day moving average is $54.23. Knight-Swift Transportation has a fifty-two week low of $45.73 and a fifty-two week high of $60.99. The stock has a market cap of $7.67 billion, a P/E ratio of 35.82, a PEG ratio of 1.47 and a beta of 0.99. 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) last announced its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS 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 company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. As a group, sell-side analysts predict that Knight-Swift Transportation will post 2.3 earnings per share for the current year.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew 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 during the period. Nordea Investment Management AB lifted its holdings in shares of Knight-Swift Transportation by 4.5% during the 3rd quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company’s stock valued at $62,950,000 after purchasing an additional 54,076 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 22.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company’s stock valued at $10,328,000 after purchasing an additional 37,934 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of 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 bought a new position in shares of Knight-Swift Transportation during the 3rd quarter valued at about $4,674,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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.