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

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KNX shares. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Susquehanna raised shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and upped their price objective for the company from $48.00 to $67.00 in a research note on Friday, January 3rd. Benchmark assumed coverage on shares of Knight-Swift Transportation in a research note on Tuesday, March 4th. They issued a “buy” rating and a $63.00 price target for the company. StockNews.com raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price target on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.41.

Knight-Swift Transportation Stock Performance

The company has a market capitalization of $7.54 billion, a price-to-earnings ratio of 63.77 and a beta of 0.97. 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 stock’s fifty day simple moving average is $53.11 and its 200-day simple moving average is $53.59.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share (EPS) 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%. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Friday, March 7th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.55%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 98.63%.

Insider Activity

In other news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $226,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of Knight-Swift Transportation by 88.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 322 shares in the last quarter. UMB Bank n.a. grew its position in shares of Knight-Swift Transportation by 84.3% in the 4th quarter. UMB Bank n.a. now owns 809 shares of the transportation company’s stock valued at $43,000 after buying an additional 370 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Knight-Swift Transportation by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock valued at $62,000 after buying an additional 292 shares during the last quarter. Quarry LP grew its position in shares of Knight-Swift Transportation by 71.1% in the 3rd quarter. Quarry LP now owns 1,201 shares of the transportation company’s stock valued at $65,000 after buying an additional 499 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Knight-Swift Transportation by 20.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,254 shares of the transportation company’s stock valued at $67,000 after buying an additional 213 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.