First Allied Advisory Services Inc. lifted its holdings in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 43.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,577 shares of the transportation company’s stock after acquiring an additional 5,048 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Knight-Swift Transportation were worth $636,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in KNX. Point72 Asia Hong Kong Ltd bought a new stake in Knight-Swift Transportation during the 1st quarter valued at $131,000. We Are One Seven LLC raised its holdings in Knight-Swift Transportation by 126.8% during the 1st quarter. We Are One Seven LLC now owns 3,119 shares of the transportation company’s stock valued at $144,000 after buying an additional 1,744 shares during the last quarter. Cerebellum GP LLC bought a new stake in Knight-Swift Transportation during the 2nd quarter valued at $164,000. Stratos Wealth Partners LTD. bought a new stake in Knight-Swift Transportation during the 1st quarter valued at $171,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in Knight-Swift Transportation by 43.8% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,177 shares of the transportation company’s stock valued at $193,000 after buying an additional 1,272 shares during the last quarter. Hedge funds and other institutional investors own 79.78% of the company’s stock.
KNX has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, July 17th. Buckingham Research lowered their price target on shares of Knight-Swift Transportation from $62.00 to $54.00 and set a “buy” rating for the company in a report on Thursday, July 26th. Credit Suisse Group lowered their price target on shares of Knight-Swift Transportation from $43.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, July 26th. Stifel Nicolaus upgraded shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Monday, May 21st. Finally, UBS Group lowered their price target on shares of Knight-Swift Transportation from $57.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $49.44.
Shares of Knight-Swift Transportation stock opened at $34.21 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.01 billion, a price-to-earnings ratio of 19.06, a P/E/G ratio of 0.99 and a beta of 1.58. Knight-Swift Transportation Holdings Inc has a 12-month low of $29.00 and a 12-month high of $51.94.
Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 25th. The transportation company reported $0.56 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.56. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.33 billion. Knight-Swift Transportation had a net margin of 13.67% and a return on equity of 5.74%. The company’s quarterly revenue was up 387.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Monday, September 3rd will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Thursday, August 30th. Knight-Swift Transportation’s payout ratio is currently 17.39%.
In related news, CAO Wayne Yu acquired 1,750 shares of Knight-Swift Transportation stock in a transaction on Wednesday, August 1st. The shares were acquired at an average cost of $32.01 per share, with a total value of $56,017.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 27.50% of the stock is currently owned by insiders.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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