Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $62.00 by Analysts at Barclays

Knight-Swift Transportation (NYSE:KNX) had its price target decreased by equities research analysts at Barclays from $68.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price target indicates a potential upside of 41.05% from the company’s previous close.

KNX has been the subject of a number of other research reports. Susquehanna decreased their price objective on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating for the company in a report on Wednesday, March 26th. Citigroup upgraded shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Monday, March 10th. Wells Fargo & Company dropped their price objective on Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. StockNews.com raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Raymond James raised their price target on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 23rd. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.24.

Knight-Swift Transportation Stock Performance

KNX stock opened at $43.96 on Wednesday. Knight-Swift Transportation has a twelve month low of $42.34 and a twelve month high of $61.51. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company has a market cap of $7.12 billion, a P/E ratio of 60.07 and a beta of 0.97. The business’s fifty day moving average is $50.76 and its 200-day moving average is $53.03.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. Equities research analysts forecast that Knight-Swift Transportation will post 2.13 EPS for the current year.

Insider Activity at Knight-Swift Transportation

In other news, Director Douglas L. Col bought 5,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were bought at an average price of $45.37 per share, with a total value of $226,850.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Trading of Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 6.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,980,109 shares of the transportation company’s stock worth $423,265,000 after buying an additional 506,491 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Knight-Swift Transportation by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company’s stock worth $370,819,000 after acquiring an additional 505,543 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Knight-Swift Transportation by 3.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock worth $221,541,000 after purchasing an additional 125,827 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Knight-Swift Transportation by 1.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,556,405 shares of the transportation company’s stock worth $188,632,000 after purchasing an additional 63,241 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Knight-Swift Transportation by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock valued at $147,529,000 after purchasing an additional 46,436 shares during the period. 88.77% of the stock is currently 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.