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

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report) shares hit a new 52-week low on Wednesday . The stock traded as low as $44.94 and last traded at $45.37, with a volume of 1937322 shares traded. The stock had previously closed at $46.38.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Citigroup upgraded shares of Knight-Swift Transportation from a "sell" rating to a "neutral" rating and set a $53.00 price objective on the stock in a research note on Monday, March 10th. Susquehanna raised Knight-Swift Transportation from a "neutral" rating to a "positive" rating and increased their target price for the company from $48.00 to $67.00 in a research report on Friday, January 3rd. TD Cowen boosted their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Thursday, January 23rd. Bank of America raised their price objective on Knight-Swift Transportation from $61.00 to $63.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation presently has an average rating of "Moderate Buy" and a consensus price target of $59.41.

Remove Ads

Knight-Swift Transportation Price Performance

The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock's 50 day moving average price is $52.30 and its two-hundred day moving average price is $53.37. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 60.81 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. 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 2.43% and a net margin of 1.59%. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Friday, March 7th. This is a positive change from Knight-Swift Transportation's previous quarterly dividend of $0.16. Knight-Swift Transportation's payout ratio is currently 98.63%.

Insider Buying and Selling

In other Knight-Swift Transportation news, Director Douglas L. Col acquired 5,000 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company's stock, valued at $226,850. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company's stock worth $61,878,000 after acquiring an additional 26,346 shares during the period. Stanley Laman Group Ltd. acquired a new position in shares of Knight-Swift Transportation during the 4th quarter worth about $3,021,000. Jane Street Group LLC lifted its stake 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 buying an additional 16,500 shares in the last quarter. Paloma Partners Management Co lifted its stake in Knight-Swift Transportation by 681.6% in the 3rd quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company's stock valued at $3,237,000 after buying an additional 52,323 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Knight-Swift Transportation by 116.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company's stock worth $7,056,000 after buying an additional 70,276 shares during the last quarter. 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.