JPMorgan Chase & Co. Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its target price upped by JPMorgan Chase & Co. from $70.00 to $77.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a neutral rating on the transportation company’s stock.

KNX has been the topic of a number of other reports. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Thursday. Benchmark increased their price objective on Knight-Swift Transportation from $75.00 to $90.00 and gave the company a “buy” rating in a report on Thursday. Zacks Research raised Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. Stephens raised Knight-Swift Transportation to a “strong-buy” rating in a report on Wednesday. Finally, Weiss Ratings upgraded shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $79.00.

Knight-Swift Transportation Stock Down 2.8%

Knight-Swift Transportation stock traded down $2.13 during trading on Friday, reaching $75.04. The stock had a trading volume of 4,104,637 shares, compared to its average volume of 3,626,918. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation has a 52-week low of $38.63 and a 52-week high of $82.86. The stock has a market cap of $12.19 billion, a PE ratio of 357.37, a P/E/G ratio of 0.87 and a beta of 1.18. The business has a 50 day moving average price of $73.34 and a 200 day moving average price of $63.43.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. On average, analysts predict that Knight-Swift Transportation will post 2.18 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a $0.80 annualized dividend and a yield of 1.1%. Knight-Swift Transportation’s payout ratio is 380.95%.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently modified their holdings of KNX. Blue Trust Inc. grew its position in shares of Knight-Swift Transportation by 123.9% during the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after acquiring an additional 301 shares during the last quarter. Clearstead Advisors LLC raised its position in Knight-Swift Transportation by 134.6% in the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in 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 valued at $35,000 after purchasing an additional 828 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Knight-Swift Transportation during the 4th quarter worth $39,000. Finally, Fifth Third Bancorp boosted its stake in Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

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.