Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $51.00

Knight-Swift Transportation (NYSE:KNX) had its target price decreased by research analysts at JPMorgan Chase & Co. from $55.00 to $51.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 3.93% from the company’s current price.

Other analysts have also issued reports about the company. Robert W. Baird lowered their target price on Knight-Swift Transportation from $64.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Wells Fargo & Company began coverage on shares of Knight-Swift Transportation in a research note on Friday, June 7th. They issued an “overweight” rating and a $56.00 target price for the company. TD Cowen decreased their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Barclays dropped their price objective on shares of Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, Bank of America decreased their price objective on Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.00.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock opened at $49.07 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $7.93 billion, a PE ratio of 73.24, a price-to-earnings-growth ratio of 1.27 and a beta of 0.94. The firm has a fifty day moving average price of $48.37 and a two-hundred day moving average price of $52.67. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 24th. The transportation company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.07). The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business earned $0.73 earnings per share. Analysts expect that Knight-Swift Transportation will post 1.24 EPS for the current year.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds have recently bought and sold shares of KNX. Vanguard Group Inc. increased its position in shares of Knight-Swift Transportation by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock valued at $750,459,000 after buying an additional 54,133 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Knight-Swift Transportation by 583.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 33,165 shares of the transportation company’s stock worth $1,912,000 after acquiring an additional 28,309 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Knight-Swift Transportation by 15.7% during the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after purchasing an additional 2,137,296 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,058,952 shares of the transportation company’s stock valued at $61,049,000 after purchasing an additional 35,549 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of Knight-Swift Transportation by 63.8% in the 4th quarter. V Square Quantitative Management LLC now owns 1,697 shares of the transportation company’s stock valued at $98,000 after purchasing an additional 661 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.