Knight-Swift Transportation (NYSE:KNX) PT Lowered to $60.00 at KeyCorp

Defense World · Oct 24, 2022 17:22

Knight-Swift Transportation (NYSE:KNX – Get Rating) had its target price cut by KeyCorp from $70.00 to $60.00 in a research note released on Thursday, MarketBeat reports. They currently have an overweight rating on the transportation company's stock. KeyCorp also issued estimates for Knight-Swift Transportation's Q4 2022 earnings at $1.17 EPS and FY2022 earnings at $5.20 EPS.

A number of other equities analysts have also recently weighed in on KNX. Barclays dropped their price target on Knight-Swift Transportation from $60.00 to $58.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Wells Fargo & Company dropped their price target on Knight-Swift Transportation from $58.00 to $55.00 and set an overweight rating on the stock in a research note on Wednesday, October 12th. Susquehanna lifted their price target on Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a positive rating in a research note on Thursday, July 21st. StockNews.com initiated coverage on Knight-Swift Transportation in a research note on Wednesday, October 12th. They issued a hold rating on the stock. Finally, Susquehanna Bancshares lifted their target price on Knight-Swift Transportation from $64.00 to $65.00 and gave the company a positive rating in a research note on Thursday, July 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $60.00.

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Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock opened at $46.90 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company's 50-day moving average price is $50.47 and its two-hundred day moving average price is $49.27. Knight-Swift Transportation has a 52 week low of $42.50 and a 52 week high of $62.29. The stock has a market cap of $7.54 billion, a PE ratio of 8.80, a price-to-earnings-growth ratio of 0.61 and a beta of 1.19.

Knight-Swift Transportation (NYSE:KNX – Get Rating) last issued its quarterly earnings results on Wednesday, October 19th. The transportation company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.05). Knight-Swift Transportation had a return on equity of 13.98% and a net margin of 11.69%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $1.30 earnings per share. Knight-Swift Transportation's revenue was up 15.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Knight-Swift Transportation will post 5.19 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 26th. Stockholders of record on Monday, September 5th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. Knight-Swift Transportation's dividend payout ratio is 9.01%.

Insider Activity

In related news, EVP James E. Jr. Updike sold 2,400 shares of the business's stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $55.18, for a total value of $132,432.00. Following the completion of the sale, the executive vice president now directly owns 19,944 shares in the company, valued at approximately $1,100,509.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Knight-Swift Transportation by 2.3% in the 1st quarter. BlackRock Inc. now owns 16,645,263 shares of the transportation company's stock worth $839,919,000 after purchasing an additional 373,181 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Knight-Swift Transportation by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 13,894,447 shares of the transportation company's stock worth $701,114,000 after purchasing an additional 84,898 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Knight-Swift Transportation by 13.4% in the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company's stock worth $414,739,000 after purchasing an additional 972,139 shares during the last quarter. State Street Corp lifted its holdings in Knight-Swift Transportation by 2.7% in the 1st quarter. State Street Corp now owns 6,314,648 shares of the transportation company's stock worth $318,637,000 after purchasing an additional 166,644 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Knight-Swift Transportation by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,850,070 shares of the transportation company's stock worth $194,290,000 after purchasing an additional 87,876 shares during the last quarter. 89.64% of the stock is currently owned by institutional investors and hedge funds.

About Knight-Swift Transportation

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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.