Knight-Swift Transportation (NYSE:KNX) Price Target Lowered to $57.00 at Barclays

Knight-Swift Transportation (NYSE:KNX) had its price objective reduced by Barclays from $62.00 to $57.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other research firms have also recently commented on KNX. Susquehanna reduced their target price on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a neutral rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a research report on Tuesday, April 9th. Stifel Nicolaus lifted their price objective on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a report on Wednesday, January 10th. TD Cowen cut their target price on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a research note on Thursday. Finally, Loop Capital downgraded Knight-Swift Transportation from a buy rating to a hold rating and decreased their price target for the company from $63.00 to $53.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $57.77.

Knight-Swift Transportation Trading Down 1.3 %

Shares of Knight-Swift Transportation stock opened at $47.88 on Thursday. The company’s fifty day moving average is $54.83 and its two-hundred day moving average is $54.19. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market capitalization of $7.73 billion, a P/E ratio of 36.00, a PEG ratio of 1.40 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.38). Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. The company had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Analysts forecast that Knight-Swift Transportation will post 2.3 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were issued a dividend of $0.16 per share. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.14. This represents a $0.64 annualized dividend and a yield of 1.34%. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 48.12%.

Insider Activity

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,118 shares in the company, valued at approximately $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in Knight-Swift Transportation in the 1st quarter valued at about $25,000. Quarry LP purchased a new position in shares of Knight-Swift Transportation during the fourth quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after buying an additional 253 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Knight-Swift Transportation by 136.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company’s stock worth $38,000 after acquiring an additional 385 shares during the last quarter. Finally, FinTrust Capital Advisors LLC purchased a new stake in Knight-Swift Transportation in the 3rd quarter worth approximately $42,000. 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.