Knight-Swift Transportation (NYSE:KNX) Reaches New 12-Month Low – What’s Next?

Knight-Swift Transportation Holdings Inc. (NYSE:KNX)’s share price hit a new 52-week low on Wednesday . The company traded as low as $44.94 and last traded at $45.37, with a volume of 1937322 shares trading hands. The stock had previously closed at $46.38.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on KNX. Citigroup upgraded shares of Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Monday, March 10th. Benchmark began coverage on shares of Knight-Swift Transportation in a research report on Tuesday, March 4th. They issued a “buy” rating and a $63.00 target price on the stock. Bank of America raised their target price on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and raised their target price for the company from $48.00 to $67.00 in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group raised their target price on shares of 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 investment 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.41.

Knight-Swift Transportation Price Performance

The business’s 50 day moving average is $52.82 and its two-hundred day moving average is $53.54. The firm has a market cap of $7.32 billion, a P/E ratio of 62.08 and a beta of 0.97. The company has a quick ratio of 1.01, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) 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 net margin of 1.59% and a return on equity of 2.43%. As a group, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be paid a $0.18 dividend. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, March 7th. Knight-Swift Transportation’s payout ratio is 98.63%.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Director Douglas L. Col purchased 5,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $45.37 per share, with a total value of $226,850.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at approximately $226,850. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several hedge funds and other institutional investors have recently bought and sold shares of KNX. Voya Investment Management LLC boosted its stake in Knight-Swift Transportation by 0.9% in the fourth quarter. Voya Investment Management LLC now owns 20,550 shares of the transportation company’s stock valued at $1,090,000 after acquiring an additional 192 shares during the last quarter. GAMMA Investing LLC boosted its stake in Knight-Swift Transportation by 18.5% in the fourth quarter. GAMMA Investing LLC now owns 1,335 shares of the transportation company’s stock valued at $71,000 after acquiring an additional 208 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Knight-Swift Transportation by 20.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 213 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Knight-Swift Transportation by 3.3% in the fourth quarter. Benjamin Edwards Inc. now owns 6,687 shares of the transportation company’s stock valued at $355,000 after acquiring an additional 216 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in Knight-Swift Transportation by 8.5% in the fourth quarter. Signaturefd LLC now owns 2,769 shares of the transportation company’s stock valued at $147,000 after acquiring an additional 218 shares during the last quarter. 88.77% of the stock is owned by institutional investors.

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.