Knight-Swift Transportation (NYSE:KNX) Reaches New 1-Year High After Analyst Upgrade

Knight-Swift Transportation Holdings Inc. (NYSE:KNX)’s share price hit a new 52-week high during trading on Friday after Wells Fargo & Company raised their price target on the stock from $65.00 to $86.00. Wells Fargo & Company currently has an overweight rating on the stock. Knight-Swift Transportation traded as high as $79.96 and last traded at $79.0150, with a volume of 1529427 shares trading hands. The stock had previously closed at $78.57.

Other research analysts also recently issued reports about the company. Barclays upped their price target on Knight-Swift Transportation from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Weiss Ratings raised Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Robert W. Baird upped their price target on Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. TD Cowen upped their price target 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. Finally, UBS Group upped 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. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $70.19.

Institutional Trading of Knight-Swift Transportation

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised 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 worth $31,000 after purchasing an additional 301 shares during the last quarter. Clearstead Advisors LLC increased its position in shares of Knight-Swift Transportation by 134.6% during the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 385 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 828 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at approximately $39,000. Finally, MMA Asset Management LLC purchased a new stake in shares of Knight-Swift Transportation during the third quarter valued at approximately $41,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Down 0.0%

The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $12.77 billion, a PE ratio of 375.21, a P/E/G ratio of 1.00 and a beta of 1.18. The stock has a 50-day moving average of $65.19 and a 200 day moving average of $58.31.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results 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 business had revenue of $1.85 billion for 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 business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. Sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 380.95%.

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.