Knight-Swift Transportation (NYSE:KNX) Hits New 52-Week Low – Here’s What Happened

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) shares reached a new 52-week low on Thursday . The company traded as low as $45.54 and last traded at $45.65, with a volume of 459459 shares traded. The stock had previously closed at $46.71.

Wall Street Analyst Weigh In

KNX has been the topic of a number of research reports. StockNews.com upgraded Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Thursday, January 23rd. TD Cowen increased their target price on Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Benchmark started coverage on Knight-Swift Transportation in a report on Tuesday, March 4th. They set a “buy” rating and a $63.00 target price on the stock. Raymond James increased their target price on Knight-Swift Transportation from $62.00 to $66.00 and gave the company a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Monday. 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 company’s stock. According to data from MarketBeat, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and a consensus price target of $59.41.

Knight-Swift Transportation Stock Down 2.3 %

The firm has a 50-day moving average of $53.41 and a two-hundred day moving average of $53.69. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $7.39 billion, a PE ratio of 62.51 and a beta of 0.97.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. On average, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Friday, March 7th will be given a $0.18 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.58%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 98.63%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KNX. Franklin Resources Inc. purchased a new position in Knight-Swift Transportation in the third quarter valued at about $70,185,000. Interval Partners LP grew its stake in shares of Knight-Swift Transportation by 320.7% during the fourth quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company’s stock valued at $93,076,000 after acquiring an additional 1,337,727 shares in the last quarter. Norges Bank acquired a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at about $65,839,000. Junto Capital Management LP acquired a new stake in shares of Knight-Swift Transportation during the fourth quarter valued at about $34,355,000. Finally, Ceredex Value Advisors LLC grew its stake in shares of Knight-Swift Transportation by 59.5% during the fourth quarter. Ceredex Value Advisors LLC now owns 1,435,562 shares of the transportation company’s stock valued at $76,142,000 after acquiring an additional 535,518 shares in the last quarter. 88.77% of the stock is owned by hedge funds and other 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.