KeyCorp Comments on Knight-Swift Transportation Holdings Inc.’s FY2022 Earnings (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Stock analysts at KeyCorp raised their FY2022 EPS estimates for Knight-Swift Transportation in a research report issued on Monday, November 22nd. KeyCorp analyst T. Fowler now forecasts that the transportation company will post earnings per share of $5.25 for the year, up from their previous estimate of $5.10. KeyCorp currently has a “Overweight” rating and a $70.00 price target on the stock.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Tuesday, October 19th. The transportation company reported $1.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.23. Knight-Swift Transportation had a net margin of 11.56% and a return on equity of 11.20%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s quarterly revenue was up 35.7% on a year-over-year basis.

A number of other analysts also recently commented on the stock. Cowen upgraded shares of Knight-Swift Transportation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $59.00 to $62.00 in a research report on Wednesday, September 15th. UBS Group upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $51.00 to $65.00 in a report on Monday, October 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $53.00 target price on the stock in a report on Tuesday, October 19th. Wells Fargo & Company dropped their target price on shares of Knight-Swift Transportation from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 14th. Finally, Robert W. Baird lifted their target price on shares of Knight-Swift Transportation from $57.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Knight-Swift Transportation has an average rating of “Buy” and a consensus price target of $58.71.

Shares of KNX stock opened at $58.09 on Wednesday. The firm has a market cap of $9.64 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.84 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.65 and a quick ratio of 1.65. Knight-Swift Transportation has a 1-year low of $39.17 and a 1-year high of $60.60. The firm has a fifty day moving average of $54.37 and a two-hundred day moving average of $50.76.

Large investors have recently made changes to their positions in the business. Accel Wealth Management purchased a new stake in Knight-Swift Transportation during the 3rd quarter worth about $26,000. Trustcore Financial Services LLC raised its holdings in shares of Knight-Swift Transportation by 57.6% during the 3rd quarter. Trustcore Financial Services LLC now owns 520 shares of the transportation company’s stock valued at $27,000 after buying an additional 190 shares in the last quarter. Brown Brothers Harriman & Co. grew its position in Knight-Swift Transportation by 190.8% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 631 shares of the transportation company’s stock worth $29,000 after acquiring an additional 414 shares during the last quarter. Spire Wealth Management bought a new position in Knight-Swift Transportation during the 3rd quarter worth approximately $29,000. Finally, CENTRAL TRUST Co bought a new position in Knight-Swift Transportation during the 3rd quarter worth approximately $31,000. Hedge funds and other institutional investors own 87.69% of the company’s stock.

In other Knight-Swift Transportation news, VP Michael K. Liu sold 1,663 shares of the business’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $59.15, for a total value of $98,366.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy Sean Harrington sold 3,928 shares of the company’s stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $59.79, for a total value of $234,855.12. The disclosure for this sale can be found here. Insiders sold 155,591 shares of company stock valued at $8,821,222 over the last three months. 3.10% of the stock is owned by company insiders.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 27th. Investors of record on Friday, December 3rd will be paid a $0.10 dividend. The ex-dividend date is Thursday, December 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.69%. Knight-Swift Transportation’s dividend payout ratio is presently 10.64%.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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Earnings History and Estimates for Knight-Swift Transportation (NYSE:KNX)

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