Knight-Swift Transportation (NYSE:KNX) Reaches New 1-Year Low - Here's What Happened

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $36.69 and last traded at $38.09, with a volume of 4842310 shares. The stock had previously closed at $39.57.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KNX. Benchmark initiated coverage on Knight-Swift Transportation in a report on Tuesday, March 4th. They issued a "buy" rating and a $63.00 price target for the company. TD Cowen boosted their price objective on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Wells Fargo & Company cut their price target on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. StockNews.com raised Knight-Swift Transportation from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, Susquehanna cut their price objective on Knight-Swift Transportation from $67.00 to $54.00 and set a "positive" rating for the company in a report on Wednesday, March 26th. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.94.

Knight-Swift Transportation Stock Performance

The firm has a market capitalization of $6.45 billion, a P/E ratio of 54.57 and a beta of 1.16. The company has a 50-day simple moving average of $47.45 and a two-hundred day simple moving average of $52.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, March 7th. This represents a $0.72 annualized dividend and a yield of 1.81%. This is a positive change from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's payout ratio is presently 98.63%.

Insiders Place Their Bets

In related news, Director Douglas L. Col bought 5,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company's stock, valued at $226,850. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On Knight-Swift Transportation

Large investors have recently modified their holdings of the stock. Stifel Financial Corp lifted its stake in shares of Knight-Swift Transportation by 4.9% in the third quarter. Stifel Financial Corp now owns 30,408 shares of the transportation company's stock worth $1,641,000 after buying an additional 1,407 shares in the last quarter. Jane Street Group LLC lifted its position in Knight-Swift Transportation by 30.9% in the 3rd quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company's stock valued at $3,771,000 after acquiring an additional 16,500 shares in the last quarter. XTX Topco Ltd purchased a new stake in Knight-Swift Transportation during the 3rd quarter valued at $428,000. MML Investors Services LLC increased its holdings in shares of Knight-Swift Transportation by 4.6% in the 3rd quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company's stock worth $280,000 after purchasing an additional 228 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Knight-Swift Transportation in the third quarter worth $424,000. Hedge funds and other institutional investors own 88.77% of the company's stock.

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.