ValuEngine upgraded shares of Knight-Swift Transportation (NYSE:KNX) from a sell rating to a hold rating in a report published on Tuesday morning.
KNX has been the topic of a number of other reports. KeyCorp cut their price objective on Knight-Swift Transportation from $55.00 to $45.00 and set an overweight rating on the stock in a research note on Thursday, July 26th. Zacks Investment Research raised Knight-Swift Transportation from a hold rating to a buy rating and set a $44.00 price objective on the stock in a research note on Wednesday, June 27th. Morgan Stanley cut their price objective on Knight-Swift Transportation from $60.00 to $55.00 and set an overweight rating on the stock in a research note on Thursday, July 26th. Stifel Nicolaus cut their price objective on Knight-Swift Transportation from $48.00 to $46.00 and set a buy rating on the stock in a research note on Thursday, July 26th. Finally, Barclays raised Knight-Swift Transportation from an equal weight rating to an overweight rating and set a $55.00 price objective on the stock in a research note on Monday, July 16th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Knight-Swift Transportation presently has a consensus rating of Buy and a consensus price target of $49.44.
Shares of KNX stock opened at $35.27 on Tuesday. Knight-Swift Transportation has a 12 month low of $29.00 and a 12 month high of $51.94. The stock has a market cap of $6.28 billion, a PE ratio of 25.52, a PEG ratio of 1.03 and a beta of 1.63. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.11.
Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 25th. The transportation company reported $0.56 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.56. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Knight-Swift Transportation had a return on equity of 5.74% and a net margin of 13.67%. The business’s revenue for the quarter was up 387.4% on a year-over-year basis. During the same period last year, the firm posted $0.25 earnings per share. equities analysts predict that Knight-Swift Transportation will post 2.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Monday, September 3rd will be issued a $0.06 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.68%. Knight-Swift Transportation’s payout ratio is currently 17.39%.
In other Knight-Swift Transportation news, CAO Wayne Yu bought 1,750 shares of the stock in a transaction on Wednesday, August 1st. The stock was acquired at an average cost of $32.01 per share, for a total transaction of $56,017.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 27.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of KNX. Millennium Management LLC increased its holdings in Knight-Swift Transportation by 334.8% in the first quarter. Millennium Management LLC now owns 3,670,747 shares of the transportation company’s stock worth $168,891,000 after purchasing an additional 2,826,495 shares in the last quarter. Citadel Advisors LLC increased its holdings in Knight-Swift Transportation by 314.7% in the first quarter. Citadel Advisors LLC now owns 3,349,522 shares of the transportation company’s stock worth $154,112,000 after purchasing an additional 2,541,867 shares in the last quarter. Nomura Holdings Inc. increased its holdings in Knight-Swift Transportation by 1,681.1% in the second quarter. Nomura Holdings Inc. now owns 1,104,298 shares of the transportation company’s stock worth $42,195,000 after purchasing an additional 1,042,298 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in Knight-Swift Transportation by 111.6% in the second quarter. Point72 Asset Management L.P. now owns 1,699,478 shares of the transportation company’s stock worth $64,937,000 after purchasing an additional 896,212 shares in the last quarter. Finally, FMR LLC increased its holdings in Knight-Swift Transportation by 100.0% in the second quarter. FMR LLC now owns 1,581,128 shares of the transportation company’s stock worth $60,415,000 after purchasing an additional 790,467 shares in the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.
About Knight-Swift Transportation
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.
Recommended Story: Outstanding Shares and The Effect on Share Price
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Knight-Swift Transportation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knight-Swift Transportation and related companies with MarketBeat.com's FREE daily email newsletter.