Benchmark Co. analyst Christopher Kuhn has maintained their bullish stance on KNX stock, giving a Buy rating today.
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Christopher Kuhn has given his Buy rating due to a combination of factors including Knight-Swift’s strategic positioning and potential for future growth. Despite a third-quarter earnings miss, largely due to one-off costs related to exiting the third-party carrier insurance business and elevated insurance expenses, the underlying performance of the company remains solid. Management’s proactive customer engagement and discussions around peak-season projects are encouraging signs of demand stability.
Furthermore, Knight-Swift’s outlook for the next cycle appears promising, with opportunities in capacity management such as ELP enforcement and CDL renewals. The company’s Truckload segment, while slightly weaker than expected, is showing signs of improvement with less churn and growth in awarded volumes. Additionally, the LTL segment has shown significant year-over-year revenue growth, bolstered by operational and cost initiatives. These factors collectively support the Buy rating, as they indicate a stable foundation and potential for Knight-Swift’s continued success.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $48.00 price target.
Based on the recent corporate insider activity of 48 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KNX in relation to earlier this year.