Knight-Swift Transportation (NYSE:KNX) Coverage Initiated by Analysts at Citizens Jmp

Equities researchers at Citizens Jmp initiated coverage on shares of Knight-Swift Transportation (NYSE:KNX) in a note issued to investors on Wednesday,Benzinga reports. The firm set a “market outperform” rating and a $90.00 price target on the transportation company’s stock. Citizens Jmp’s target price would indicate a potential upside of 19.49% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Barclays upped their target price on Knight-Swift Transportation from $75.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday, June 25th. Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 price target on the stock in a research note on Friday, March 27th. Robert W. Baird boosted their price target on Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Wells Fargo & Company upped their price objective on Knight-Swift Transportation from $65.00 to $86.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, Raymond James Financial raised their price objective on Knight-Swift Transportation from $76.00 to $91.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $80.44.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $75.32 on Wednesday. The firm has a 50 day moving average of $73.81 and a 200-day moving average of $63.80. The stock has a market capitalization of $12.24 billion, a PE ratio of 358.67, a PEG ratio of 0.83 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. Knight-Swift Transportation has a 12 month low of $38.63 and a 12 month high of $82.86.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.20). The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. On average, equities research analysts predict that Knight-Swift Transportation will post 2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its holdings in Knight-Swift Transportation by 123.9% during the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after purchasing an additional 301 shares during the last quarter. Clearstead Advisors LLC increased its stake in Knight-Swift Transportation by 134.6% in the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after buying an additional 385 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Knight-Swift Transportation in the 4th quarter valued at about $39,000. Fifth Third Bancorp lifted its position in shares of Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after buying an additional 267 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Knight-Swift Transportation by 1,478.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after buying an additional 828 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

About Knight-Swift Transportation

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.