Bank of America Downgrades Knight-Swift Transportation (NYSE:KNX) to Neutral

Knight-Swift Transportation (NYSE:KNX) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday,Finviz reports. They currently have a $46.00 target price on the transportation company’s stock, down from their prior target price of $66.00. Bank of America‘s price objective would indicate a potential upside of 5.70% from the stock’s previous close.

KNX has been the subject of a number of other reports. The Goldman Sachs Group raised their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, December 12th. Raymond James raised their price target on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. TD Cowen boosted their price target on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, January 23rd. StockNews.com upgraded shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Finally, Susquehanna dropped their target price on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating on the stock in a report on Wednesday, March 26th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.59.

Knight-Swift Transportation Price Performance

Shares of KNX stock opened at $43.52 on Tuesday. The company has a market cap of $7.05 billion, a P/E ratio of 59.62 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation has a twelve month low of $42.47 and a twelve month high of $61.51. The business has a fifty day simple moving average of $50.99 and a 200 day simple moving average of $53.10.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. On average, sell-side analysts forecast that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Douglas L. Col purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were bought at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $226,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC raised its position in Knight-Swift Transportation by 0.9% in the fourth quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company’s stock worth $1,090,000 after acquiring an additional 192 shares during the period. GAMMA Investing LLC increased its stake in shares of Knight-Swift Transportation by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock worth $71,000 after purchasing an additional 208 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Knight-Swift Transportation by 20.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock worth $67,000 after purchasing an additional 213 shares during the period. Benjamin Edwards Inc. lifted its stake in Knight-Swift Transportation by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company’s stock valued at $355,000 after purchasing an additional 216 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Knight-Swift Transportation by 8.5% during the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 218 shares during the period. Hedge funds and other 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.