Knight-Swift Transportation (NYSE:KNX) PT Lowered to $54.00 at Bank of America

Knight-Swift Transportation (NYSE:KNX) had its price target decreased by Bank of America from $58.00 to $54.00 in a report published on Thursday, Benzinga reports. Bank of America currently has a buy rating on the transportation company’s stock.

Other equities research analysts also recently issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a research report on Wednesday, January 10th. TD Cowen reduced their target price on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating on the stock in a report on Thursday. Barclays cut their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an overweight rating on the stock in a report on Monday, April 1st. Loop Capital downgraded shares of Knight-Swift Transportation from a buy rating to a hold rating and dropped their target price for the stock from $63.00 to $53.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating on the stock in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $57.77.

Knight-Swift Transportation Trading Down 1.3 %

Shares of KNX stock opened at $47.88 on Thursday. Knight-Swift Transportation has a 1 year low of $45.73 and a 1 year high of $60.99. The firm has a fifty day moving average price of $54.83 and a 200-day moving average price of $54.19. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 36.00, a PEG ratio of 1.40 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. As a group, equities analysts predict that Knight-Swift Transportation will post 2.3 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were given a dividend of $0.16 per share. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.34%. Knight-Swift Transportation’s dividend payout ratio is presently 48.12%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total value of $112,480.00. Following the completion of the transaction, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at $287,836.32. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Knight-Swift Transportation by 0.4% in the third quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock worth $750,459,000 after buying an additional 54,133 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Knight-Swift Transportation by 4.5% during the third quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company’s stock worth $62,950,000 after purchasing an additional 54,076 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Knight-Swift Transportation by 22.6% during the third quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company’s stock worth $10,328,000 after purchasing an additional 37,934 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Knight-Swift Transportation by 3,637.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock worth $10,701,000 after purchasing an additional 180,659 shares during the last quarter. Finally, Comerica Bank purchased a new position in shares of Knight-Swift Transportation during the third quarter worth $4,674,000. 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.