Zacks Investment Research Lowers Knight-Swift (NYSE:KNX) to Hold

Zacks Investment Research lowered shares of Knight-Swift (NYSE:KNX) from a buy rating to a hold rating in a report published on Wednesday, April 4th.

According to Zacks, “Knight-Swift Transportation Holdings Inc., is the largest provider of truckload services in North America. Through its Knight Transportation, Swift Transportation and Barr-Nunn branded subsidiaries, it operates truckload fleet primarily in North America as well as extensive rail intermodal and non-asset based freight brokerage and logistics management services. The Company offers dry van, cross border freight transportation, fleet solutions, consulting, brokerage, equipment leasing, temperature controlled transport, and engineering services. Knight-Swift Transportation Holdings serves customers in North America. Knight-Swift Transportation Holdings Inc., formerly known as Knight Transportation Inc., is headquartered in Phoenix, Arizona. “

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Several other equities analysts have also recently weighed in on KNX. ValuEngine raised shares of Knight-Swift from a buy rating to a strong-buy rating in a research note on Monday, April 2nd. Wells Fargo raised their target price on shares of Knight-Swift from $36.00 to $48.00 and gave the company a market perform rating in a research note on Thursday, February 8th. Buckingham Research raised their target price on shares of Knight-Swift from $57.00 to $60.00 and gave the company a buy rating in a research note on Wednesday, January 31st. Barclays raised shares of Knight-Swift from an underweight rating to an equal weight rating and raised their target price for the company from $50.00 to $55.00 in a research note on Monday, February 5th. Finally, Credit Suisse Group raised their price target on Knight-Swift from $46.00 to $48.00 and gave the company a neutral rating in a report on Wednesday, January 31st. Eight research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $50.48.

Shares of NYSE:KNX traded down $0.02 during mid-day trading on Wednesday, reaching $43.18. The stock had a trading volume of 1,125,129 shares, compared to its average volume of 2,165,197. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $7,751.22, a price-to-earnings ratio of 31.57, a P/E/G ratio of 1.28 and a beta of 1.69. Knight-Swift has a twelve month low of $30.43 and a twelve month high of $51.94.

Knight-Swift (NYSE:KNX) last announced its earnings results on Tuesday, January 30th. The transportation company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.39 by $0.13. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.36 billion. Knight-Swift had a net margin of 12.58% and a return on equity of 5.92%. The business’s quarterly revenue was up 370.2% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. equities research analysts expect that Knight-Swift will post 2.26 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 27th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, February 28th. Knight-Swift’s dividend payout ratio (DPR) is currently 17.39%.

Several large investors have recently added to or reduced their stakes in KNX. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Knight-Swift by 17.6% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 56,209 shares of the transportation company’s stock valued at $2,457,000 after acquiring an additional 8,400 shares during the last quarter. Swiss National Bank raised its position in shares of Knight-Swift by 8.8% during the fourth quarter. Swiss National Bank now owns 490,696 shares of the transportation company’s stock worth $21,453,000 after purchasing an additional 39,500 shares during the period. State of Tennessee Treasury Department acquired a new position in shares of Knight-Swift during the fourth quarter worth approximately $4,809,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Knight-Swift during the fourth quarter worth approximately $10,345,000. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Knight-Swift during the third quarter worth approximately $11,137,000. Institutional investors own 80.69% of the company’s stock.

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About Knight-Swift

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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