Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $59.00

Knight-Swift Transportation (NYSE:KNX) had its target price cut by Susquehanna from $62.00 to $59.00 in a report released on Monday morning, Benzinga reports. They currently have a neutral rating on the transportation company’s stock.

Several other brokerages have also weighed in on KNX. TheStreet raised shares of Knight-Swift Transportation from a c+ rating to a b- rating in a research report on Monday, December 4th. Stifel Nicolaus increased their price objective on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Finally, TD Cowen raised their price target on shares of Knight-Swift Transportation from $58.00 to $61.00 and gave the stock an outperform rating in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of Moderate Buy and an average target price of $62.55.

Knight-Swift Transportation Stock Up 2.6 %

Knight-Swift Transportation stock opened at $55.02 on Monday. The stock has a market capitalization of $8.89 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 1.42 and a beta of 0.99. Knight-Swift Transportation has a twelve month low of $45.73 and a twelve month high of $60.99. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a 50 day moving average of $56.60 and a 200-day moving average of $54.13.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, equities research analysts anticipate that Knight-Swift Transportation will post 2.47 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were paid a $0.16 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the sale, the chief accounting officer now directly owns 5,118 shares in the company, valued at $287,836.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

A number of institutional investors and hedge funds have recently made changes to their positions in KNX. Vanguard Group Inc. raised its stake in Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after buying an additional 57,000 shares during the period. 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. V Square Quantitative Management LLC lifted its holdings 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 worth $98,000 after purchasing an additional 661 shares in the last quarter. Quarry LP bought a new position in shares of Knight-Swift Transportation in the 4th quarter worth $33,000. Finally, Bullseye Asset Management LLC lifted its holdings in shares of Knight-Swift Transportation by 6.2% in the 4th quarter. Bullseye Asset Management LLC now owns 43,000 shares of the transportation company’s stock worth $2,478,000 after purchasing an additional 2,500 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

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.