Knight-Swift Transportation (NYSE:KNX) Reaches New 1-Year Low at $45.55

Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $45.55 and last traded at $45.69, with a volume of 81019 shares traded. The stock had previously closed at $46.23.

Analyst Ratings Changes

KNX has been the subject of several recent analyst reports. Susquehanna cut their target price on Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Barclays dropped their price objective on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. Loop Capital downgraded Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their price objective for the company from $63.00 to $53.00 in a report on Thursday, April 18th. TD Cowen cut their price objective on Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Evercore ISI cut their price objective on Knight-Swift Transportation from $60.00 to $55.00 and set an “in-line” rating on the stock in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $57.71.

Knight-Swift Transportation Trading Up 0.3 %

The company has a 50-day moving average price of $52.67 and a 200-day moving average price of $54.10. The firm has a market capitalization of $7.60 billion, a price-to-earnings ratio of 70.22, a PEG ratio of 2.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.94 and a current ratio of 0.93.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). Knight-Swift Transportation had a return on equity of 2.54% and a net margin of 1.50%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the company posted $0.73 earnings per share. The company’s revenue was up 10.0% compared to the same quarter last year. As a group, research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.29 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, June 10th. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Insider Activity

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNX. Victory Capital Management Inc. raised its stake in shares of Knight-Swift Transportation by 908.9% during the 4th quarter. Victory Capital Management Inc. now owns 4,181,899 shares of the transportation company’s stock worth $241,086,000 after buying an additional 3,767,408 shares in the last quarter. Norges Bank purchased a new position in shares of Knight-Swift Transportation during the 4th quarter worth approximately $201,232,000. Wellington Management Group LLP raised its stake in shares of Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Knight-Swift Transportation by 225.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after buying an additional 599,193 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in shares of Knight-Swift Transportation by 4,385.6% during the 4th quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock worth $22,563,000 after buying an additional 382,646 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other 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.