Knight-Swift Transportation (NYSE:KNX) Reaches New 12-Month High After Better-Than-Expected Earnings

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) shares hit a new 52-week high on Thursday following a better than expected earnings announcement. The stock traded as high as $61.51 and last traded at $57.29, with a volume of 1188916 shares changing hands. The stock had previously closed at $55.00.

The transportation company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Friday, December 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Raymond James lifted their target price on Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Bank of America boosted their price target on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective on the stock. in a report on Tuesday, November 12th. Morgan Stanley lowered their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, The Goldman Sachs Group lifted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.38.

Insider Activity

In other news, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently modified their holdings of KNX. Renaissance Technologies LLC boosted its position in shares of Knight-Swift Transportation by 66.1% during the 2nd quarter. Renaissance Technologies LLC now owns 86,727 shares of the transportation company’s stock valued at $4,329,000 after acquiring an additional 34,500 shares during the last quarter. Intech Investment Management LLC raised its stake in Knight-Swift Transportation by 188.1% during the second quarter. Intech Investment Management LLC now owns 23,943 shares of the transportation company’s stock worth $1,195,000 after purchasing an additional 15,632 shares during the period. Sei Investments Co. boosted its holdings in Knight-Swift Transportation by 9.5% in the 2nd quarter. Sei Investments Co. now owns 321,463 shares of the transportation company’s stock valued at $16,047,000 after purchasing an additional 27,826 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Knight-Swift Transportation by 25.6% in the 2nd quarter. Marshall Wace LLP now owns 175,813 shares of the transportation company’s stock valued at $8,777,000 after buying an additional 35,809 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Knight-Swift Transportation by 61.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 30,819 shares of the transportation company’s stock worth $1,538,000 after buying an additional 11,710 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Trading Up 5.4 %

The stock has a market cap of $9.39 billion, a PE ratio of 252.45, a price-to-earnings-growth ratio of 1.03 and a beta of 0.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The company’s 50-day moving average price is $55.24 and its 200 day moving average price is $53.35.

Knight-Swift Transportation Company Profile

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.