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Investing.com - Benchmark has reiterated its Buy rating on Knight Transportation (NYSE:KNX) while maintaining a $55.00 price target ahead of the company’s third-quarter results, due October 22. According to InvestingPro data, analyst targets range from $41 to $67, with the stock currently trading near Fair Value levels.
The research firm has reduced its estimates for Knight Transportation, noting that the company’s Truckload segment performance has generally reflected broader industry conditions. This aligns with InvestingPro data showing 14 analysts revising their earnings estimates downward, despite the company maintaining profitability with $7.4 billion in revenue over the last twelve months.
Benchmark’s pre-quarter checks and transportation data indicate that third-quarter freight volumes were unusual, with trends remaining stable but below normal seasonal levels.
September demand held steady but did not demonstrate the typical uptick that would normally be expected, suggesting muted shipper activity across the transportation sector.
The firm cited sub-seasonal volumes and ongoing pricing challenges as factors pushing the anticipated freight recovery further into the future, prompting the downward revision of estimates for Knight Transportation.
In other recent news, Knight-Swift Transportation Holdings Inc. reported a 1.9% increase in revenue, excluding fuel surcharge, for the second quarter of 2025. The company also saw a significant 17.2% improvement in adjusted operating income year-over-year. Despite these positive financial results, Knight-Swift’s stock saw a slight dip in premarket trading. The company expressed cautious optimism about market recovery in the latter half of the year. In another development, BofA Securities upgraded Knight Transportation from Neutral to Buy, raising its price target to $50.00 from $41.00. The upgrade was influenced by tightening truckload supply dynamics, driven by factors such as English Language Proficiency enforcement and limits on nondomiciled Commercial Drivers Licenses. Additionally, upcoming tariffs on imported heavy-duty trucks were noted as a catalyst. These recent developments provide investors with significant insights into Knight-Swift’s current market position and future prospects.
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