KNX has been the subject of several other reports. Stifel Nicolaus reiterated a hold rating and set a $40.00 target price (up from $39.00) on shares of Knight-Swift Transportation in a research note on Thursday, July 25th. KeyCorp lifted their target price on Knight-Swift Transportation from $41.00 to $44.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. Citigroup lifted their target price on Knight-Swift Transportation from $35.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, July 18th. Bank of America reiterated a buy rating and set a $43.00 target price (up from $38.00) on shares of Knight-Swift Transportation in a research note on Thursday, July 25th. Finally, Knight Equity began coverage on Knight-Swift Transportation in a research note on Thursday, September 5th. They set a positive rating and a $40.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Knight-Swift Transportation has an average rating of Buy and a consensus price target of $42.46.
NYSE:KNX opened at $36.61 on Tuesday. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 14.30, a price-to-earnings-growth ratio of 1.03 and a beta of 1.97. Knight-Swift Transportation has a twelve month low of $23.27 and a twelve month high of $39.26. The stock’s 50 day moving average price is $34.59 and its two-hundred day moving average price is $33.11. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.15.
Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 24th. The transportation company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.01. Knight-Swift Transportation had a return on equity of 8.66% and a net margin of 8.19%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. As a group, analysts anticipate that Knight-Swift Transportation will post 2.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be paid a $0.06 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.24 annualized dividend and a yield of 0.66%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 9.38%.
In related news, COO Kevin Quast sold 4,703 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $33.36, for a total value of $156,892.08. Following the completion of the sale, the chief operating officer now directly owns 11,602 shares in the company, valued at approximately $387,042.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.50% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atria Investments LLC boosted its stake in Knight-Swift Transportation by 45.2% in the 2nd quarter. Atria Investments LLC now owns 27,189 shares of the transportation company’s stock valued at $893,000 after purchasing an additional 8,460 shares during the period. Nomura Holdings Inc. bought a new stake in Knight-Swift Transportation in the 2nd quarter valued at $6,588,000. BlackRock Inc. boosted its stake in Knight-Swift Transportation by 2.7% in the 2nd quarter. BlackRock Inc. now owns 12,280,414 shares of the transportation company’s stock valued at $403,290,000 after purchasing an additional 319,842 shares during the period. MidWestOne Financial Group Inc. bought a new stake in Knight-Swift Transportation in the 2nd quarter valued at $258,000. Finally, Nuveen Asset Management LLC boosted its stake in Knight-Swift Transportation by 2,097.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,478,357 shares of the transportation company’s stock valued at $48,550,000 after purchasing an additional 1,411,082 shares during the period. Institutional investors and hedge funds own 83.45% of the company’s stock.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation 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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