Knight-Swift Transportation (NYSE:KNX) Downgraded to “Neutral” Rating by Citigroup

Knight-Swift Transportation (NYSE:KNX) was downgraded by research analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Monday, Marketbeat reports. They currently have a $90.00 price objective on the transportation company’s stock. Citigroup’s price target suggests a potential upside of 10.65% from the company’s current price.

Several other brokerages have also weighed in on KNX. TD Cowen lifted their price target on Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, April 23rd. Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target for the company in a research note on Friday, March 27th. Wells Fargo & Company lifted their price target on Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Weiss Ratings upgraded Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Finally, Susquehanna upgraded Knight-Swift Transportation from a “neutral” rating to a “positive” rating and set a $90.00 price target for the company in a research note on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $71.81.

Knight-Swift Transportation Stock Down 0.2%

Knight-Swift Transportation stock opened at $81.34 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation has a 52 week low of $38.63 and a 52 week high of $82.86. The business’s 50-day moving average price is $68.08 and its 200 day moving average price is $59.91. The firm has a market cap of $13.22 billion, a price-to-earnings ratio of 387.35, a price-to-earnings-growth ratio of 1.04 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. Knight-Swift Transportation’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Knight-Swift Transportation will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its position in shares of Knight-Swift Transportation by 4.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,183 shares of the transportation company’s stock valued at $298,000 after purchasing an additional 222 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Knight-Swift Transportation by 44.4% in the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 267 shares in the last quarter. Blue Trust Inc. grew its position in shares of Knight-Swift Transportation by 123.9% in the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 301 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Knight-Swift Transportation by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 52,930 shares of the transportation company’s stock valued at $2,091,000 after purchasing an additional 306 shares in the last quarter. Finally, Parallel Advisors LLC grew its position in shares of Knight-Swift Transportation by 7.9% in the fourth quarter. Parallel Advisors LLC now owns 4,240 shares of the transportation company’s stock valued at $222,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

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.