Benchmark Issues Positive Forecast for Knight-Swift Transportation (NYSE:KNX) Stock Price

Knight-Swift Transportation (NYSE:KNX) had its price objective upped by research analysts at Benchmark from $75.00 to $90.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Benchmark’s price target points to a potential upside of 16.52% from the stock’s current price.

KNX has been the subject of several other research reports. Citigroup raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Weiss Ratings upgraded shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 15th. Evercore raised Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Friday, March 27th. Finally, Raymond James Financial lifted their target price on Knight-Swift Transportation from $76.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $78.06.

Knight-Swift Transportation Trading Up 3.0%

Shares of NYSE:KNX traded up $2.26 during mid-day trading on Thursday, reaching $77.24. 416,401 shares of the company were exchanged, compared to its average volume of 3,676,286. Knight-Swift Transportation has a 1 year low of $38.63 and a 1 year high of $82.86. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50-day simple moving average is $72.87 and its 200 day simple moving average is $63.18. The firm has a market cap of $12.55 billion, a price-to-earnings ratio of 368.31, a P/E/G ratio of 0.92 and a beta of 1.18.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly 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). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Equities research analysts forecast that Knight-Swift Transportation will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KNX. Strs Ohio boosted its position in Knight-Swift Transportation by 24.7% during the fourth quarter. Strs Ohio now owns 448,471 shares of the transportation company’s stock worth $23,446,000 after purchasing an additional 88,707 shares in the last quarter. UBS Group AG increased its position in shares of Knight-Swift Transportation by 44.3% in the fourth quarter. UBS Group AG now owns 2,430,896 shares of the transportation company’s stock valued at $127,087,000 after buying an additional 745,787 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Knight-Swift Transportation by 7.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,676,422 shares of the transportation company’s stock worth $244,250,000 after buying an additional 315,192 shares in the last quarter. Aristotle Capital Boston LLC grew its stake in Knight-Swift Transportation by 412.0% in the 3rd quarter. Aristotle Capital Boston LLC now owns 301,450 shares of the transportation company’s stock valued at $11,910,000 after acquiring an additional 242,573 shares during the last quarter. Finally, Junto Capital Management LP increased its stake in shares of Knight-Swift Transportation by 252.4% during the 3rd quarter. Junto Capital Management LP now owns 2,262,145 shares of the transportation company’s stock worth $89,377,000 after purchasing an additional 1,620,224 shares in the last quarter. Institutional investors and hedge funds 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.