Knight-Swift Transportation (NYSE:KNX) Shares Gap Down to $50.78

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) gapped down prior to trading on Wednesday . The stock had previously closed at $50.78, but opened at $46.02. Knight-Swift Transportation shares last traded at $48.88, with a volume of 8,330,427 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. dropped their price target on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, April 9th. Barclays dropped their price target on shares of Knight-Swift Transportation from $65.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 1st. Finally, Susquehanna dropped their price target on shares of Knight-Swift Transportation from $62.00 to $59.00 and set a “neutral” rating for the company in a research report on Monday, March 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.75.

Knight-Swift Transportation Stock Down 4.2 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.86 billion, a P/E ratio of 38.18, a PEG ratio of 1.44 and a beta of 0.99. The stock’s 50-day simple moving average is $55.30 and its 200 day simple moving average is $54.27.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The firm had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. As a group, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.35 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Friday, March 8th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.64 annualized dividend and a dividend yield of 1.31%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio is currently 48.12%.

Insider Buying and Selling

In other news, CAO Cary M. Flanagan sold 2,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the transaction, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of KNX. Northwestern Mutual Wealth Management Co. boosted its holdings in Knight-Swift Transportation by 8.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,494 shares of the transportation company’s stock worth $131,000 after buying an additional 190 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Knight-Swift Transportation by 25.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,000 shares of the transportation company’s stock worth $50,000 after buying an additional 200 shares during the period. Arkadios Wealth Advisors boosted its holdings in Knight-Swift Transportation by 2.9% in the 4th quarter. Arkadios Wealth Advisors now owns 7,215 shares of the transportation company’s stock worth $416,000 after buying an additional 205 shares during the period. Private Advisor Group LLC boosted its holdings in Knight-Swift Transportation by 2.8% in the 3rd quarter. Private Advisor Group LLC now owns 7,542 shares of the transportation company’s stock worth $378,000 after buying an additional 207 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in Knight-Swift Transportation by 0.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 40,074 shares of the transportation company’s stock worth $2,310,000 after purchasing an additional 209 shares in the last quarter. 88.77% of the stock is owned by institutional investors.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.