Raymond James Financial Increases Knight-Swift Transportation (NYSE:KNX) Price Target to $55.00

Knight-Swift Transportation (NYSE:KNX) had its price target hoisted by equities research analysts at Raymond James Financial from $50.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “strong-buy” rating on the transportation company’s stock. Raymond James Financial’s target price suggests a potential upside of 22.06% from the stock’s current price.

A number of other research firms also recently issued reports on KNX. Benchmark reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Knight-Swift Transportation in a research note on Monday, April 14th. TD Cowen reduced their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group raised Knight-Swift Transportation from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $45.00 to $65.00 in a research note on Monday, June 2nd. Barclays reduced their price objective on Knight-Swift Transportation from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, July 10th. Finally, Stifel Nicolaus reduced their price objective on Knight-Swift Transportation from $57.00 to $49.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.06.

Knight-Swift Transportation Stock Down 0.8%

Shares of KNX opened at $45.06 on Tuesday. The business’s 50 day moving average is $44.79 and its 200 day moving average is $47.03. The company has a market capitalization of $7.30 billion, a PE ratio of 47.94, a price-to-earnings-growth ratio of 0.68 and a beta of 1.17. Knight-Swift Transportation has a 12-month low of $36.69 and a 12-month high of $61.51. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last issued its 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 company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.12 EPS. Research analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knight-Swift Transportation

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC boosted its holdings in Knight-Swift Transportation by 9,383.3% during the 1st quarter. Larson Financial Group LLC now owns 569 shares of the transportation company’s stock valued at $25,000 after acquiring an additional 563 shares during the period. Brooklyn Investment Group boosted its holdings in Knight-Swift Transportation by 93.4% during the 1st quarter. Brooklyn Investment Group now owns 642 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 310 shares during the period. UMB Bank n.a. boosted its holdings in Knight-Swift Transportation by 40.0% during the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 324 shares during the period. Oliver Lagore Vanvalin Investment Group purchased a new position in Knight-Swift Transportation during the 2nd quarter valued at $55,000. Finally, Quarry LP boosted its holdings in Knight-Swift Transportation by 41.6% during the 4th quarter. Quarry LP now owns 1,701 shares of the transportation company’s stock valued at $90,000 after acquiring an additional 500 shares during the period. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.