Knight-Swift Transportation (NYSE:KNX) Shares Down 6.2% - What's Next?

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report) shares dropped 6.2% during mid-day trading on Friday . The stock traded as low as $51.04 and last traded at $50.09. Approximately 285,198 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,124,659 shares. The stock had previously closed at $53.42.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen increased their price target on Knight-Swift Transportation from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Citigroup lowered shares of Knight-Swift Transportation from a "neutral" rating to a "sell" rating and set a $56.00 target price on the stock. in a research note on Tuesday, November 12th. StockNews.com raised shares of Knight-Swift Transportation from a "sell" rating to a "hold" rating in a research note on Thursday, January 23rd. The Goldman Sachs Group upped their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, December 12th. Finally, Raymond James raised their target price on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation has an average rating of "Moderate Buy" and a consensus price target of $59.38.

Knight-Swift Transportation Price Performance

The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $8.13 billion, a PE ratio of 68.77 and a beta of 0.99. The business has a 50-day moving average of $54.51 and a 200 day moving average of $54.08.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share 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, research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Friday, March 7th will be issued a $0.18 dividend. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation's payout ratio is 98.63%.

Institutional Trading of Knight-Swift Transportation

Hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its holdings in shares of Knight-Swift Transportation by 3.7% in the 4th quarter. Toronto Dominion Bank now owns 21,143 shares of the transportation company's stock worth $1,121,000 after purchasing an additional 759 shares during the period. Castleark Management LLC bought a new stake in shares of Knight-Swift Transportation in the fourth quarter valued at $247,000. WS Management Lllp lifted its position in shares of Knight-Swift Transportation by 1.5% during the 4th quarter. WS Management Lllp now owns 203,073 shares of the transportation company's stock valued at $10,771,000 after buying an additional 3,073 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Knight-Swift Transportation during the 4th quarter worth $534,000. Finally, Seven Six Capital Management LLC purchased a new stake in Knight-Swift Transportation in the 4th quarter worth about $4,105,000. 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.