Citizens Jmp Begins Coverage on Knight-Swift Transportation (NYSE:KNX)

Analysts at Citizens Jmp initiated coverage on shares of Knight-Swift Transportation (NYSE:KNX) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “market outperform” rating and a $90.00 price target on the transportation company’s stock. Citizens Jmp’s price target indicates a potential upside of 16.59% from the stock’s previous close.

Several other brokerages have also weighed in on KNX. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 target price on the stock in a research report on Tuesday, June 2nd. TD Cowen upped their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Stifel Nicolaus increased their price target on shares of Knight-Swift Transportation from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Knight-Swift Transportation from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Knight-Swift Transportation in a report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Knight-Swift Transportation presently has an average rating of “Buy” and a consensus target price of $80.44.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $77.19 on Wednesday. The business has a fifty day simple moving average of $74.27 and a 200 day simple moving average of $64.11. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 367.60, a PEG ratio of 0.82 and a beta of 1.18. Knight-Swift Transportation has a one year low of $38.63 and a one year high of $82.86.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts expect that Knight-Swift Transportation will post 2.21 EPS for the current year.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its stake 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 valued at $31,000 after acquiring an additional 301 shares during the period. Clearstead Advisors LLC boosted its holdings in Knight-Swift Transportation by 134.6% in 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 Knight-Swift Transportation by 1,478.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after purchasing an additional 828 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Knight-Swift Transportation in the fourth quarter worth about $39,000. Finally, Fifth Third Bancorp increased its position in Knight-Swift Transportation by 44.4% in the fourth 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.

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.