Information Provided By:
Fly News Breaks for October 15, 2019
KNX
Oct 15, 2019 | 10:08 EDT
Seaport Global analyst Kevin Sterling believes Knight-Swift Transportation's guidance cut this morning is not all that surprising. The analyst on October 1 cut his estimates for a variety of truckload carriers, including Knight-Swift, but he admits "not quite enough." Knight-Swift called out the weak full truckload market, which has pressured rates for all of 2019, but also increased competition in intermodal, which has negatively impacted both volume and price, Sterling tells investors in a research note. The analyst believes the full truckload market continues to right-size capacity as orders shrink and carriers file for bankruptcy. He keeps a Buy rating on Knight-Swift with a $50 price target. The stock in morning trading is up 11c to $36.15.
News For KNX From the Last 2 Days
There are no results for your query KNX