Knight-Swift Transportation (NYSE:KNX) Reaches New 1-Year High – Here’s Why

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) reached a new 52-week high during trading on Wednesday . The company traded as high as $73.36 and last traded at $72.95, with a volume of 3065034 shares. The stock had previously closed at $70.12.

Analysts Set New Price Targets

Several research firms have commented on KNX. Stifel Nicolaus increased their price objective on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. UBS Group increased their price objective on shares of Knight-Swift Transportation from $66.00 to $79.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Robert W. Baird increased their price objective on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings raised shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 15th. Finally, Susquehanna increased their price objective on shares of Knight-Swift Transportation from $60.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.71.

Knight-Swift Transportation Stock Up 4.0%

The firm has a market capitalization of $11.85 billion, a PE ratio of 347.40 and a beta of 1.15. The company has a fifty day moving average price of $61.93 and a 200-day moving average price of $56.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.20). The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The firm’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. As a group, analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.12 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation’s dividend payout ratio is presently 380.95%.

Insiders Place Their Bets

In related news, CFO Joshua Smith sold 5,770 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $60.91, for a total transaction of $351,450.70. Following the sale, the chief financial officer owned 9,214 shares in the company, valued at approximately $561,224.74. This represents a 38.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its stake in Knight-Swift Transportation by 123.9% in the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after purchasing an additional 301 shares during the period. Clearstead Advisors LLC increased its stake in Knight-Swift Transportation by 134.6% in the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock worth $35,000 after purchasing an additional 385 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in Knight-Swift Transportation by 1,478.6% in the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after purchasing an additional 828 shares during the period. Los Angeles Capital Management LLC purchased a new stake in Knight-Swift Transportation in the fourth quarter worth $39,000. Finally, MMA Asset Management LLC purchased a new stake in Knight-Swift Transportation in the third quarter worth $41,000. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.