Knight-Swift Transportation Holdings Inc (NYSE:KNX) has been assigned an average rating of “Buy” from the twenty-one ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $42.56.
A number of analysts have issued reports on the company. Zacks Investment Research downgraded Knight-Swift Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 24th. Morgan Stanley assumed coverage on Knight-Swift Transportation in a research note on Wednesday, December 13th. They issued an “overweight” rating and a $50.00 target price for the company. Knight Equity raised Knight-Swift Transportation to a “buy” rating in a research note on Sunday, November 26th. KeyCorp raised their price objective on Knight-Swift Transportation from $45.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Citigroup started coverage on Knight-Swift Transportation in a research report on Tuesday, September 19th. They set a “buy” rating and a $48.00 price objective for the company.
Shares of Knight-Swift Transportation (KNX) traded down $0.21 on Tuesday, hitting $44.90. The company’s stock had a trading volume of 1,266,991 shares, compared to its average volume of 1,542,015. Knight-Swift Transportation has a twelve month low of $26.68 and a twelve month high of $45.60. The firm has a market cap of $8,030.00, a P/E ratio of 65.07 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.14.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Stockholders of record on Friday, December 1st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Thursday, November 30th. Knight-Swift Transportation’s payout ratio is presently 8.70%.
In related news, Director Michael Garnreiter sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $38.50, for a total transaction of $96,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Todd F. Carlson sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.24, for a total value of $353,160.00. The disclosure for this sale can be found here. Insiders sold a total of 12,500 shares of company stock valued at $492,410 in the last quarter. Company insiders own 44.90% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Knight-Swift Transportation by 97.1% during the third quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock worth $350,174,000 after buying an additional 4,151,669 shares during the period. Teachers Advisors LLC increased its position in Knight-Swift Transportation by 1,098.3% during the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock worth $51,173,000 after buying an additional 1,265,934 shares during the period. Citadel Advisors LLC increased its holdings in shares of Knight-Swift Transportation by 10,372.6% in the second quarter. Citadel Advisors LLC now owns 1,219,634 shares of the transportation company’s stock valued at $45,187,000 after purchasing an additional 1,207,988 shares during the period. Artemis Investment Management LLP increased its holdings in shares of Knight-Swift Transportation by 1,958.7% in the third quarter. Artemis Investment Management LLP now owns 1,152,833 shares of the transportation company’s stock valued at $47,877,000 after purchasing an additional 1,096,835 shares during the period. Finally, Balyasny Asset Management LLC acquired a new position in shares of Knight-Swift Transportation in the second quarter valued at approximately $30,414,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.
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About Knight-Swift Transportation
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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