JPMorgan Chase & Co. Cuts Knight-Swift Transportation (NYSE:KNX) Price Target to $46.00

Knight-Swift Transportation (NYSE:KNX) had its target price decreased by JPMorgan Chase & Co. from $49.00 to $46.00 in a report issued on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the transportation company’s stock.

KNX has been the topic of several other research reports. TD Securities dropped their price objective on shares of Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America lowered Knight-Swift Transportation from a “buy” rating to a “neutral” rating and decreased their target price for the company from $66.00 to $46.00 in a research report on Tuesday, April 1st. TD Cowen cut their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a report on Thursday. The Goldman Sachs Group decreased their price objective on Knight-Swift Transportation from $55.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Finally, Stifel Nicolaus lowered their target price on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and a consensus target price of $50.60.

Knight-Swift Transportation Price Performance

KNX stock opened at $38.93 on Thursday. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $44.40 and its 200 day simple moving average is $51.31. Knight-Swift Transportation has a 12-month low of $36.69 and a 12-month high of $61.51. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 53.33 and a beta of 1.16.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. On average, analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.85%. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio is presently 76.60%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Douglas L. Col bought 5,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, March 13th. The stock was bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $226,850. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KNX. Stanley Laman Group Ltd. bought a new stake in shares of Knight-Swift Transportation during the 4th quarter worth $3,021,000. Charles Schwab Investment Management Inc. raised its position in Knight-Swift Transportation by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,175,335 shares of the transportation company’s stock worth $62,340,000 after acquiring an additional 28,387 shares during the period. Principal Financial Group Inc. raised its position in Knight-Swift Transportation by 21.5% in the third quarter. Principal Financial Group Inc. now owns 653,238 shares of the transportation company’s stock worth $35,242,000 after acquiring an additional 115,447 shares during the period. New England Research & Management Inc. boosted its stake in Knight-Swift Transportation by 199.2% in the fourth quarter. New England Research & Management Inc. now owns 29,625 shares of the transportation company’s stock valued at $1,571,000 after acquiring an additional 19,725 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Knight-Swift Transportation during the 4th quarter valued at approximately $749,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.