Barclays analyst Eric Morgan maintains $Knight-Swift Transportation (KNX.US)$ with a buy rating, and maintains the target price at $62.
According to TipRanks data, the analyst has a success rate of 57.6% and a total average return of 29.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Knight-Swift Transportation (KNX.US)$'s main analysts recently are as follows:
Knight-Swift is perceived as a beneficiary during the early cycle. The company's ability to demonstrate operating leverage in light of improving seasonality has been noted. While the short-term and 2024 earnings projections remain intact, expectations for 2025 earnings have been adjusted.
While the company's third-quarter miss and first-quarter guidance slightly underperformed consensus, which might initially appear unfavorable, considering the third-quarter disruptions and the projections not factoring in a cyclical shift, the results should at least meet, if not exceed, expectations. The market could find reassurance in the fact that there was no revision to guidance and might even be buoyed by management's positive commentary regarding the fourth quarter and full-year prospects in relation to the cycle.
Knight-Swift met expectations in the third quarter and maintained fourth-quarter guidance consistent with estimates and consensus expectations. The company is seeing positive contractual rates that help to counterbalance heightened network costs, which suggests that margins are likely to see an improvement following the third quarter.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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