Knight-Swift Transportation (NYSE:KNX) Lowered to Sell Rating by Citigroup

Knight-Swift Transportation (NYSE:KNX) was downgraded by equities researchers at Citigroup from a “neutral” rating to a “sell” rating in a report released on Tuesday,Finviz reports. They presently have a $56.00 price objective on the transportation company’s stock. Citigroup’s target price suggests a potential downside of 4.89% from the stock’s previous close.

Several other analysts also recently commented on KNX. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. Evercore ISI boosted their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. The Goldman Sachs Group reduced their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Barclays raised their price target on Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.00.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $58.88 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.53 billion, a PE ratio of 256.00, a price-to-earnings-growth ratio of 2.17 and a beta of 0.93. Knight-Swift Transportation has a 12-month low of $45.55 and a 12-month high of $60.99. The firm has a 50-day moving average price of $52.70 and a 200 day moving average price of $50.79.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm earned $0.41 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. Research analysts anticipate that Knight-Swift Transportation will post 1.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the sale, the director now directly owns 21,833 shares of the company’s stock, valued at $1,164,135.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nuance Investments LLC increased its position in shares of Knight-Swift Transportation by 74.5% in the third quarter. Nuance Investments LLC now owns 929,083 shares of the transportation company’s stock worth $50,124,000 after purchasing an additional 396,607 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Knight-Swift Transportation in the third quarter worth approximately $3,729,000. Aviance Capital Partners LLC raised its stake in shares of Knight-Swift Transportation by 7.1% during the third quarter. Aviance Capital Partners LLC now owns 100,740 shares of the transportation company’s stock worth $5,435,000 after acquiring an additional 6,668 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Knight-Swift Transportation in the 3rd quarter valued at $88,000. Finally, Swiss National Bank increased its holdings in shares of Knight-Swift Transportation by 0.7% in the third quarter. Swiss National Bank now owns 479,696 shares of the transportation company’s stock worth $25,880,000 after buying an additional 3,100 shares during the period. Institutional investors own 88.77% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.