Knight-Swift Transportation Holdings

KNX · NYSE

$63.25+$0.04 (+0.06%)TodayMarket closed · Oct 20, 7:31 PM ET

Prev close $63.21

KNX analyst rating

BuyConsensus of 19 analysts over the last 12 months. 95% rate it a buy.

Strong buy1
Buy17
Hold1
Underperform0
Sell0

12-month price target · 22 analysts

Average $90.34 (+42.8% upside)

Low: $55.42
Now: $63.25
High: $105.00

Upgrades and downgrades

The latest rating actions, newest first

KNX analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Oct 13, 2026	Maintains	Buy	$94.00 → $82.00	61%
Stifel	Oct 8, 2026	Maintains	Buy	$88.00 → $90.00	50%
Citigroup	Oct 7, 2026	Maintains	Buy	$90.00 → $81.00	66%
Wells Fargo	Oct 6, 2026	Maintains	Overweight	$86.00 → $81.00	57%
JP Morgan	Oct 5, 2026	Maintains	Neutral	$84.00 → $68.00	56%
Susquehanna	Oct 2, 2026	Maintains	Positive	$96.00 → $85.00	52%
B of A Securities	Sep 23, 2026	Maintains	Buy	$98.00 → $92.00	55%
Bernstein	Sep 10, 2026	Initiates	Outperform	$91.00	56%
JP Morgan	Jul 23, 2026	Maintains	Neutral	$77.00 → $84.00	56%
B of A Securities	Jul 23, 2026	Maintains	Buy	$90.00 → $98.00	55%

The case for and against

Updated Oct 14, 2026

Bull case

Knight-Swift is well positioned to benefit from a truckload cycle inflection because tightening capacity, rising spot and contract rates, and improving tractor utilization are driving margin expansion across its core businesses. The company’s 2Q results underscore this leverage, with adjusted EPS of $0.63 versus $0.52 estimated, consolidated revenue of $2.1bn, and a 91% adjusted operating ratio that materially outperformed expectations, while Logistics and Intermodal are also showing improving mix and profitability. Its scale advantage, diversified asset-based platform, and growing asset-light businesses, alongside constructive 2H and 2027 pricing trends, support higher mid-cycle earnings and resilience.

Bear case

Knight-Swift is facing a mixed but still fragile backdrop: while tighter supply and rate resets are improving Truckload profitability, the company’s earnings power is constrained by weak volume conversion from tighter driver availability and only modest freight demand growth. Its Truckload business posted $98.9mm of adjusted operating income, up about 70% y/y, yet loaded miles fell 2.6% and the broader Logistics segment is under pressure from higher purchased transportation costs, tighter insurance terms, and a shrinking third-party carrier pool. The recent U.S. Xpress turnaround and stronger pricing help, but LTL revenue excluding fuel declined 1.4% y/y and acquisition execution, regulatory risk, and cyclical margin volatility keep the outlook negative.

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