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

Knight-Swift Transportation (NYSE:KNX) had its price target increased by Citigroup from $48.00 to $53.00 in a research report sent to investors on Friday, Marketbeat Ratings reports. Citigroup currently has a buy rating on the transportation company’s stock.

A number of other research analysts have also recently issued reports on the stock. TD Securities decreased their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Stifel Nicolaus decreased their price target on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating for the company in a report on Monday, April 14th. Evercore ISI decreased their price target on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an “in-line” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company raised their price target on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group decreased their price target on shares of Knight-Swift Transportation from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $51.33.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $44.34 on Friday. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 60.74 and a beta of 1.18. Knight-Swift Transportation has a twelve month low of $36.69 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 50 day moving average of $41.95 and a two-hundred day moving average of $49.42.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 1.59% and a return on equity of 2.43%. Knight-Swift Transportation’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share. As a group, analysts predict that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Monday, June 9th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.72 annualized dividend and a yield of 1.62%. Knight-Swift Transportation’s dividend payout ratio is presently 76.60%.

Insider Activity at Knight-Swift Transportation

In related news, Director Douglas L. Col bought 5,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.00% of the stock is owned by company insiders.

Institutional Trading of Knight-Swift Transportation

Several institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in Knight-Swift Transportation during the first quarter worth about $20,123,000. Focus Partners Wealth acquired a new position in Knight-Swift Transportation during the first quarter worth about $451,000. Dean Capital Management boosted its position in Knight-Swift Transportation by 2.4% during the first quarter. Dean Capital Management now owns 29,499 shares of the transportation company’s stock worth $1,283,000 after acquiring an additional 684 shares during the last quarter. Great Lakes Advisors LLC boosted its position in Knight-Swift Transportation by 4.3% during the first quarter. Great Lakes Advisors LLC now owns 21,185 shares of the transportation company’s stock worth $921,000 after acquiring an additional 880 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in Knight-Swift Transportation during the first quarter worth about $519,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.