Knight-Swift Transportation (KNX) Rating Increased to Buy at Goldman Sachs Group

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Knight-Swift Transportation (NYSE:KNX) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $48.00 target price on the transportation company’s stock, up from their previous target price of $46.00. Goldman Sachs Group’s price target would indicate a potential upside of 43.37% from the company’s previous close. The analysts noted that the move was a valuation call.

KNX has been the subject of a number of other research reports. KeyCorp cut their price objective on shares of Knight-Swift Transportation from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, July 26th. Buckingham Research cut their price objective on shares of Knight-Swift Transportation from $54.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, October 12th. Morgan Stanley cut their price objective on shares of Knight-Swift Transportation from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a research report on Sunday, July 15th. Finally, ValuEngine lowered shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $48.24.

Shares of NYSE:KNX traded down $0.84 during trading on Thursday, reaching $33.48. The stock had a trading volume of 2,107,292 shares, compared to its average volume of 2,727,017. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.43 and a quick ratio of 1.47. The firm has a market cap of $5.98 billion, a PE ratio of 24.26, a P/E/G ratio of 0.95 and a beta of 1.51. Knight-Swift Transportation has a fifty-two week low of $29.00 and a fifty-two week high of $51.94.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, October 24th. The transportation company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.35 billion. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The company’s revenue was up 158.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts expect that Knight-Swift Transportation will post 2.35 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in KNX. Stratos Wealth Partners LTD. purchased a new stake in Knight-Swift Transportation in the third quarter valued at approximately $135,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Knight-Swift Transportation by 43.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,177 shares of the transportation company’s stock valued at $193,000 after purchasing an additional 1,272 shares during the period. First Interstate Bank purchased a new stake in Knight-Swift Transportation in the third quarter valued at approximately $194,000. Point72 Hong Kong Ltd grew its holdings in Knight-Swift Transportation by 97.8% in the second quarter. Point72 Hong Kong Ltd now owns 5,642 shares of the transportation company’s stock valued at $216,000 after purchasing an additional 2,789 shares during the period. Finally, Vident Investment Advisory LLC purchased a new stake in Knight-Swift Transportation in the second quarter valued at approximately $240,000. Hedge funds and other institutional investors own 79.93% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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Analyst Recommendations for Knight-Swift Transportation (NYSE:KNX)

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