Bank of America Forecasts Strong Price Appreciation for Knight-Swift Transportation (NYSE:KNX) Stock

Knight-Swift Transportation (NYSE:KNX) had its price target raised by investment analysts at Bank of America from $43.00 to $48.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the transportation company’s stock. Bank of America‘s price objective would suggest a potential upside of 5.25% from the company’s previous close.

Several other research analysts also recently commented on KNX. Raymond James cut their price objective on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a “strong-buy” rating for the company in a report on Friday, April 11th. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and cut their target price for the stock from $53.00 to $48.00 in a research note on Tuesday, April 8th. Stifel Nicolaus lowered their price target on shares of Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Wells Fargo & Company reduced their price objective on shares of Knight-Swift Transportation from $55.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Finally, Barclays lowered their target price on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Seven investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $50.73.

Knight-Swift Transportation Stock Up 0.1%

KNX opened at $45.61 on Friday. Knight-Swift Transportation has a twelve month low of $36.69 and a twelve month high of $61.51. The company’s 50-day moving average price is $42.27 and its two-hundred day moving average price is $50.29. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 62.47 and a beta of 1.18. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business earned $0.12 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current year.

Insider Transactions at Knight-Swift Transportation

In related news, Director Douglas L. Col purchased 5,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $226,850. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

A number of institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC grew its holdings in Knight-Swift Transportation by 0.9% in the 4th quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company’s stock worth $1,090,000 after acquiring an additional 192 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in shares of Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after purchasing an additional 213 shares during the last quarter. Benjamin Edwards Inc. raised its position in Knight-Swift Transportation by 3.3% during the 4th quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company’s stock valued at $355,000 after purchasing an additional 216 shares during the last quarter. Signaturefd LLC raised its position in Knight-Swift Transportation by 8.5% during the 4th quarter. Signaturefd LLC now owns 2,769 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 218 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in Knight-Swift Transportation by 6.1% in the 4th quarter. Bessemer Group Inc. now owns 3,882 shares of the transportation company’s stock worth $206,000 after buying an additional 222 shares during the period. 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.