Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $90.00

Knight-Swift Transportation (NYSE:KNX) had its price objective lifted by analysts at Barclays from $75.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective suggests a potential upside of 16.99% from the company’s current price.

KNX has been the topic of several other research reports. UBS Group boosted their price target on Knight-Swift Transportation from $79.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Benchmark lifted their target price on Knight-Swift Transportation from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. The Goldman Sachs Group lifted their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price for the company in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.53.

Knight-Swift Transportation Stock Performance

Shares of KNX stock traded up $2.41 during trading hours on Thursday, hitting $76.93. The company’s stock had a trading volume of 3,958,280 shares, compared to its average volume of 3,738,441. The stock has a market cap of $12.50 billion, a PE ratio of 366.35, a price-to-earnings-growth ratio of 0.94 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $70.44 and a 200 day moving average of $61.47. Knight-Swift Transportation has a 12-month low of $38.63 and a 12-month high of $82.86.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). The firm had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. On average, sell-side analysts forecast that Knight-Swift Transportation will post 2.14 EPS for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of 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 during the period. Clearstead Advisors LLC boosted its stake in Knight-Swift Transportation by 134.6% during the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock worth $35,000 after acquiring an additional 385 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at approximately $39,000. Fifth Third Bancorp lifted its position in Knight-Swift Transportation by 44.4% in the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 267 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Knight-Swift Transportation by 1,478.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after acquiring an additional 828 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

Knight-Swift Transportation Company Profile

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.