Zacks Research Has Negative Estimate for KNX FY2024 Earnings

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) - Analysts at Zacks Research reduced their FY2024 earnings per share estimates for Knight-Swift Transportation in a report released on Wednesday, November 6th. Zacks Research analyst S. Goswami now anticipates that the transportation company will post earnings of $1.04 per share for the year, down from their prior estimate of $1.07. The consensus estimate for Knight-Swift Transportation's current full-year earnings is $1.05 per share. Zacks Research also issued estimates for Knight-Swift Transportation's Q4 2024 earnings at $0.34 EPS, Q1 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.64 EPS, FY2025 earnings at $2.03 EPS, Q2 2026 earnings at $0.71 EPS and FY2026 earnings at $3.10 EPS.

Several other equities analysts have also commented on the company. Morgan Stanley decreased their price target on Knight-Swift Transportation from $72.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Raymond James increased their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a "strong-buy" rating in a research note on Monday, October 14th. Citigroup initiated coverage on shares of Knight-Swift Transportation in a report on Wednesday, October 9th. They issued a "neutral" rating and a $55.00 price objective on the stock. StockNews.com upgraded shares of Knight-Swift Transportation to a "sell" rating in a report on Thursday, July 25th. Finally, TD Cowen upped their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and an average target price of $55.94.

Knight-Swift Transportation Trading Down 1.2 %

KNX traded down $0.72 during trading hours on Monday, reaching $58.88. The company's stock had a trading volume of 2,631,427 shares, compared to its average volume of 2,072,220. The stock has a market cap of $9.53 billion, a PE ratio of 259.14, a P/E/G ratio of 2.17 and a beta of 0.93. Knight-Swift Transportation has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. The business's 50-day moving average is $52.57 and its 200-day moving average is $50.71.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analysts' expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation's revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new stake in Knight-Swift Transportation during the first quarter worth about $1,935,000. Wedge Capital Management L L P NC lifted its stake in shares of Knight-Swift Transportation by 9.0% during the second quarter. Wedge Capital Management L L P NC now owns 263,033 shares of the transportation company's stock worth $13,131,000 after purchasing an additional 21,689 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Knight-Swift Transportation by 21.0% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 89,821 shares of the transportation company's stock worth $4,942,000 after buying an additional 15,600 shares during the period. Swedbank AB acquired a new stake in Knight-Swift Transportation in the first quarter valued at approximately $3,162,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Knight-Swift Transportation by 12.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 133,178 shares of the transportation company's stock valued at $7,328,000 after acquiring an additional 15,040 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Knight-Swift Transportation

In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the sale, the director now owns 21,833 shares of the company's stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Michael Garnreiter sold 2,000 shares of the business's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the completion of the transaction, the director now directly owns 17,648 shares of the company's stock, valued at $892,459.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company's stock.

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.