Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Short Interest Down 29.1% in March

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report) saw a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 6,150,000 shares, a drop of 29.1% from the February 28th total of 8,670,000 shares. Based on an average daily volume of 2,700,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.9% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Benchmark started coverage on shares of Knight-Swift Transportation in a research note on Tuesday, March 4th. They set a "buy" rating and a $63.00 target price on the stock. Bank of America lowered Knight-Swift Transportation from a "buy" rating to a "neutral" rating and reduced their price target for the company from $66.00 to $46.00 in a research report on Tuesday. Susquehanna lowered their price objective on Knight-Swift Transportation from $67.00 to $54.00 and set a "positive" rating for the company in a research report on Wednesday, March 26th. The Goldman Sachs Group upped their target price on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Finally, Barclays lowered their price target on shares of Knight-Swift Transportation from $68.00 to $62.00 and set an "overweight" rating for the company in a report on Wednesday. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.24.

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Insider Buying and Selling

In other Knight-Swift Transportation news, Director Douglas L. Col purchased 5,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $45.37 per share, with a total value of $226,850.00. Following the acquisition, the director now owns 5,000 shares of the company's stock, valued at approximately $226,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently made changes to their positions in KNX. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Knight-Swift Transportation in the 4th quarter worth approximately $240,000. Siemens Fonds Invest GmbH bought a new stake in shares of Knight-Swift Transportation in the fourth quarter valued at $497,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Knight-Swift Transportation during the 4th quarter valued at $2,796,000. Toronto Dominion Bank grew its stake in shares of Knight-Swift Transportation by 3.7% during the 4th quarter. Toronto Dominion Bank now owns 21,143 shares of the transportation company's stock worth $1,121,000 after acquiring an additional 759 shares during the period. Finally, Castleark Management LLC purchased a new stake in Knight-Swift Transportation in the 4th quarter worth about $247,000. 88.77% of the stock is owned by hedge funds and other institutional investors.

Knight-Swift Transportation Stock Down 12.2 %

Shares of KNX stock traded down $5.49 during trading hours on Thursday, reaching $39.52. The company had a trading volume of 3,829,677 shares, compared to its average volume of 2,834,303. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 54.13 and a beta of 0.97. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01. Knight-Swift Transportation has a 12 month low of $39.30 and a 12 month high of $61.51. The business has a fifty day simple moving average of $50.56 and a 200-day simple moving average of $52.98.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. On average, research analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th were paid a $0.18 dividend. This is a positive change from Knight-Swift Transportation's previous quarterly dividend of $0.16. The ex-dividend date was Friday, March 7th. This represents a $0.72 annualized dividend and a yield of 1.82%. Knight-Swift Transportation's dividend payout ratio (DPR) is 98.63%.

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.