Knight-Swift Transportation (NYSE:KNX) Price Target Raised to $100.00 at Morgan Stanley

Knight-Swift Transportation (NYSE:KNX) had its price target boosted by investment analysts at Morgan Stanley from $70.00 to $100.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the transportation company’s stock. Morgan Stanley’s price objective indicates a potential upside of 30.09% from the stock’s current price.

A number of other equities research analysts have also weighed in on KNX. Zacks Research upgraded Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 30th. Wells Fargo & Company upped their target price on Knight-Swift Transportation from $65.00 to $86.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. UBS Group increased their target price on Knight-Swift Transportation from $79.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, June 1st. The Goldman Sachs Group lifted their price target on shares of Knight-Swift Transportation from $65.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings raised shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $77.18.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $76.87 on Monday. 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 company’s fifty day moving average price is $72.30 and its two-hundred day moving average price is $62.72. The firm has a market capitalization of $12.49 billion, a P/E ratio of 367.83, a P/E/G ratio of 0.97 and a beta of 1.18. 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 announced its 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 for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. On average, research analysts anticipate that Knight-Swift Transportation will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KNX. Blue Trust Inc. raised its position in shares of Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 301 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock worth $35,000 after purchasing an additional 385 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 828 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Knight-Swift Transportation during the fourth quarter valued at $39,000. Finally, Fifth Third Bancorp raised its holdings in shares of Knight-Swift Transportation by 44.4% during the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after purchasing an additional 267 shares during the period. 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.