Knight-Swift Transportation (NYSE:KNX) Sets New 1-Year High – Here’s What Happened

Knight-Swift Transportation Holdings Inc. (NYSE:KNX)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $71.63 and last traded at $70.9810, with a volume of 5420705 shares trading hands. The stock had previously closed at $68.37.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup upgraded Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $64.00 target price for the company in a report on Friday, March 13th. Susquehanna upped their target price on Knight-Swift Transportation from $60.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Robert W. Baird upped their target price on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Stifel Nicolaus upped their target price on Knight-Swift Transportation from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, April 23rd. Finally, Evercore upgraded Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $65.00 target price for the company in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.71.

Knight-Swift Transportation Stock Up 3.8%

The company has a market capitalization of $11.53 billion, a PE ratio of 338.02 and a beta of 1.15. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $60.60 and a two-hundred day moving average of $55.99.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). The business had revenue of $1.85 billion during 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 company’s revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.28 earnings per share. Equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.12 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be given a $0.20 dividend. 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%.

Insider Activity at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 30,000 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $61.00, for a total value of $1,830,000.00. Following the completion of the transaction, the chairman directly owned 1,305,347 shares in the company, valued at approximately $79,626,167. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joshua Smith sold 5,770 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.91, for a total value of $351,450.70. Following the completion of the transaction, the chief financial officer owned 9,214 shares of the company’s stock, valued at $561,224.74. The trade was a 38.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Knight-Swift Transportation by 123.9% during the first quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock worth $31,000 after buying an additional 301 shares during the period. Clearstead Advisors LLC boosted its position in shares of Knight-Swift Transportation by 134.6% during the fourth quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock worth $35,000 after buying an additional 385 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Knight-Swift Transportation during the fourth quarter worth $39,000. Fifth Third Bancorp boosted its position in shares of Knight-Swift Transportation by 44.4% during the fourth quarter. Fifth Third Bancorp now owns 868 shares of the transportation company’s stock worth $45,000 after buying an additional 267 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its position in shares of Knight-Swift Transportation by 1,478.6% during the third quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock worth $35,000 after buying an additional 828 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

About Knight-Swift Transportation

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.