Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Sees Significant Drop in Short Interest

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 6,150,000 shares, a drop of 29.1% from the February 28th total of 8,670,000 shares. Based on an average trading volume of 2,700,000 shares, the short-interest ratio is presently 2.3 days. Approximately 3.9% of the company’s shares are short sold.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX traded down $1.03 during midday trading on Friday, reaching $43.54. 2,229,882 shares of the company’s stock were exchanged, compared to its average volume of 2,210,812. The firm has a market capitalization of $7.05 billion, a PE ratio of 59.65 and a beta of 0.97. The company’s 50 day simple moving average is $51.22 and its two-hundred day simple moving average is $53.13. Knight-Swift Transportation has a 12 month low of $42.72 and a 12 month high of $61.51. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 0.85.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, beating 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%. Equities research analysts expect that Knight-Swift Transportation will post 2.13 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.65%. This is a boost from Knight-Swift Transportation’s previous quarterly dividend of $0.16. Knight-Swift Transportation’s dividend payout ratio (DPR) is 98.63%.

Insider Transactions at Knight-Swift Transportation

In other news, Director Douglas L. Col acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $45.37 per share, with a total value of $226,850.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Several institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 purchasing an additional 26,346 shares during the last quarter. Stanley Laman Group Ltd. acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at about $3,021,000. Jane Street Group LLC raised its stake in shares of Knight-Swift Transportation by 30.9% in the third quarter. Jane Street Group LLC now owns 69,907 shares of the transportation company’s stock worth $3,771,000 after acquiring an additional 16,500 shares during the last quarter. Paloma Partners Management Co lifted its position in shares of Knight-Swift Transportation by 681.6% during the third quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company’s stock worth $3,237,000 after purchasing an additional 52,323 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Knight-Swift Transportation by 116.1% during the third quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock valued at $7,056,000 after purchasing an additional 70,276 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Citigroup raised Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Monday, March 10th. Benchmark assumed coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. Susquehanna lowered their price objective on shares of Knight-Swift Transportation from $67.00 to $54.00 and set a “positive” rating on the stock in a research report on Wednesday. Bank of America upped their price target on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Eight 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $58.59.

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.