Knight Equity Raises Knight-Swift Transportation (KNX) Price Target to $55.00
Knight-Swift Transportation (NYSE:KNX) had its price target boosted by Knight Equity to $55.00 in a report issued on Thursday, The Fly reports. Knight Equity currently has a buy rating on the transportation company’s stock.
Other equities analysts have also issued reports about the stock. UBS Group cut their target price on shares of Knight-Swift Transportation from $53.00 to $51.00 and set a buy rating for the company in a report on Tuesday, November 7th. Seaport Global Securities reaffirmed a buy rating on shares of Knight-Swift Transportation in a report on Thursday, September 21st. ValuEngine lowered shares of Knight-Swift Transportation from a buy rating to a hold rating in a report on Monday, October 2nd. Credit Suisse Group cut their target price on shares of Knight-Swift Transportation from $41.00 to $40.00 and set a neutral rating for the company in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Knight-Swift Transportation in a report on Thursday, October 12th. They set a neutral rating and a $39.00 target price for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the stock. Knight-Swift Transportation presently has a consensus rating of Buy and a consensus price target of $43.11.
Knight-Swift Transportation (KNX) traded up $0.70 on Thursday, reaching $46.53. 1,709,017 shares of the company’s stock were exchanged, compared to its average volume of 1,580,000. Knight-Swift Transportation has a 12 month low of $30.00 and a 12 month high of $46.64. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.14. The stock has a market cap of $8,150.00, a price-to-earnings ratio of 67.43 and a beta of 0.91.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 1st were paid a $0.06 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.52%. Knight-Swift Transportation’s dividend payout ratio is currently 8.70%.
In related news, Director Michael Garnreiter sold 1,000 shares of Knight-Swift Transportation stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $43.00, for a total value of $43,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Todd F. Carlson sold 9,000 shares of Knight-Swift Transportation stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $39.24, for a total transaction of $353,160.00. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock worth $492,410 in the last three months. 9.90% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Eaton Vance Management grew its stake in Knight-Swift Transportation by 0.6% in the 2nd quarter. Eaton Vance Management now owns 8,052 shares of the transportation company’s stock valued at $298,000 after acquiring an additional 49 shares during the period. HighTower Advisors LLC grew its stake in Knight-Swift Transportation by 3.1% in the 2nd quarter. HighTower Advisors LLC now owns 8,233 shares of the transportation company’s stock valued at $305,000 after acquiring an additional 246 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Knight-Swift Transportation by 11.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 288 shares during the period. Ameritas Investment Partners Inc. grew its stake in Knight-Swift Transportation by 11.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,422 shares of the transportation company’s stock valued at $238,000 after acquiring an additional 639 shares during the period. Finally, New York State Common Retirement Fund grew its stake in Knight-Swift Transportation by 0.8% in the 2nd quarter. New York State Common Retirement Fund now owns 96,622 shares of the transportation company’s stock valued at $3,580,000 after acquiring an additional 721 shares during the period. 78.41% of the stock is currently owned by hedge funds and other institutional investors.
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Knight-Swift Transportation Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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