Knight-Swift Transportation (NYSE:KNX) Price Target Cut to $59.00

Knight-Swift Transportation (NYSE:KNX) had its target price decreased by Susquehanna from $62.00 to $59.00 in a report issued on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the transportation company’s stock.

A number of other equities research analysts have also recently commented on the company. TheStreet raised Knight-Swift Transportation from a c+ rating to a b- rating in a report on Monday, December 4th. TD Cowen raised their price target on Knight-Swift Transportation from $58.00 to $61.00 and gave the company an outperform rating in a report on Wednesday, November 29th. Finally, Stifel Nicolaus raised their price target on Knight-Swift Transportation from $54.00 to $64.00 and gave the company a buy rating in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $62.55.

Knight-Swift Transportation Stock Performance

KNX stock opened at $53.59 on Monday. The company has a market cap of $8.65 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 1.41 and a beta of 0.99. 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 current ratio of 0.94 and a quick ratio of 0.94. The stock’s fifty day moving average price is $56.60 and its 200-day moving average price is $54.13.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, equities analysts forecast that Knight-Swift Transportation will post 2.47 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. Stockholders of record on Friday, March 8th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is 48.12%.

Insider Transactions at Knight-Swift Transportation

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, February 29th. The stock was 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 in the company, valued at $287,836.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNX. Quarry LP purchased a new position in Knight-Swift Transportation in the fourth quarter worth about $33,000. DecisionPoint Financial LLC purchased a new position in shares of Knight-Swift Transportation during the second quarter valued at approximately $36,000. Massmutual Trust Co. FSB ADV boosted its position in shares of 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 valued at $38,000 after buying an additional 385 shares during the period. FinTrust Capital Advisors LLC purchased a new position in shares of Knight-Swift Transportation during the third quarter valued at approximately $42,000. Finally, Blue Trust Inc. boosted its position in shares of Knight-Swift Transportation by 80.3% during the fourth quarter. Blue Trust Inc. now owns 732 shares of the transportation company’s stock valued at $42,000 after buying an additional 326 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.