Knight-Swift Transportation (NYSE:KNX) Downgraded to “Neutral” Rating by Citigroup

Knight-Swift Transportation (NYSE:KNX) was downgraded by analysts at Citigroup from a “buy” rating to a “neutral” rating in a report released on Monday, MarketBeat reports. They currently have a $90.00 price target on the transportation company’s stock. Citigroup’s target price would indicate a potential upside of 10.65% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on KNX. TD Cowen raised their target price on Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price for the company in a research note on Tuesday, June 2nd. Stifel Nicolaus raised their target price on Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Evercore raised Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a research note on Friday, March 27th. Finally, Robert W. Baird raised their price target on Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.81.

Knight-Swift Transportation Trading Down 0.2%

Shares of Knight-Swift Transportation stock opened at $81.34 on Monday. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 387.35, a PEG ratio of 1.04 and a beta of 1.18. Knight-Swift Transportation has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a 50 day moving average of $68.08 and a 200 day moving average of $59.91.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.20). The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.Knight-Swift Transportation’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, research analysts predict that Knight-Swift Transportation will post 2.14 earnings per share for the current year.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC raised its stake in Knight-Swift Transportation by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,183 shares of the transportation company’s stock valued at $298,000 after buying an additional 222 shares in the last quarter. Fifth Third Bancorp raised its stake in Knight-Swift Transportation by 44.4% in the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock valued at $45,000 after buying an additional 267 shares in the last quarter. Blue Trust Inc. raised its stake in Knight-Swift Transportation by 123.9% in the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after buying an additional 301 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Knight-Swift Transportation by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock valued at $2,091,000 after buying an additional 306 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in Knight-Swift Transportation by 7.9% in the fourth quarter. Parallel Advisors LLC now owns 4,240 shares of the transportation company’s stock valued at $222,000 after buying an additional 309 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.