Knight-Swift Transportation (NYSE:KNX) Stock Price Expected to Rise, Raymond James Financial Analyst Says

Knight-Swift Transportation (NYSE:KNX) had its price objective upped by analysts at Raymond James Financial from $76.00 to $91.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “strong-buy” rating on the transportation company’s stock. Raymond James Financial’s price target would indicate a potential upside of 17.72% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on KNX. Zacks Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. The Goldman Sachs Group boosted their target price on Knight-Swift Transportation from $65.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Friday, March 27th. Wells Fargo & Company raised their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, UBS Group boosted their price objective on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.41.

Knight-Swift Transportation Stock Down 0.7%

Shares of KNX opened at $77.30 on Thursday. The firm has a market cap of $12.56 billion, a P/E ratio of 368.13, a price-to-earnings-growth ratio of 0.99 and a beta of 1.18. Knight-Swift Transportation has a 12-month low of $38.63 and a 12-month high of $82.86. The company’s 50-day moving average price is $71.82 and its 200 day moving average price is $62.39. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26.

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

Institutional Trading of Knight-Swift Transportation

Large investors have recently modified their holdings of the stock. DV Trading LLC purchased a new position in Knight-Swift Transportation in the first quarter valued at $287,000. Parallel Advisors LLC increased its holdings in Knight-Swift Transportation by 8.6% during the 1st quarter. Parallel Advisors LLC now owns 4,606 shares of the transportation company’s stock worth $265,000 after purchasing an additional 366 shares during the period. NewEdge Advisors LLC increased its holdings in Knight-Swift Transportation by 2,833.9% during the 1st quarter. NewEdge Advisors LLC now owns 3,726 shares of the transportation company’s stock worth $215,000 after purchasing an additional 3,599 shares during the period. Westshore Wealth LLC acquired a new stake in Knight-Swift Transportation in the 1st quarter valued at about $205,000. Finally, EverSource Wealth Advisors LLC raised its position in Knight-Swift Transportation by 20.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 51,170 shares of the transportation company’s stock valued at $2,946,000 after purchasing an additional 8,817 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

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.