Knight-Swift Transportation (NYSE:KNX) Trading Down 6.2% – What’s Next?

Knight-Swift Transportation Holdings Inc. (NYSE:KNX)’s stock price fell 6.2% on Friday . The company traded as low as $51.04 and last traded at $50.09. 285,198 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 2,124,659 shares. The stock had previously closed at $53.42.

Analyst Ratings Changes

A number of research firms recently weighed in on KNX. Susquehanna upgraded shares of Knight-Swift Transportation from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $48.00 to $67.00 in a research report on Friday, January 3rd. Barclays lifted their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their price objective on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Citigroup lowered shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price on the stock. in a research report on Tuesday, November 12th. Finally, Bank of America boosted their target price on shares of Knight-Swift Transportation from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.38.

Knight-Swift Transportation Trading Down 2.6 %

The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of 71.25 and a beta of 0.99. 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 business has a 50 day simple moving average of $54.60 and a 200-day simple moving average of $54.07.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share 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 analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share 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 paid a $0.18 dividend. 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 dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, March 7th. Knight-Swift Transportation’s payout ratio is currently 98.63%.

Hedge Funds Weigh In On Knight-Swift Transportation

Several 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% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company’s stock valued at $36,000 after buying an additional 322 shares during the period. Deseret Mutual Benefit Administrators raised its holdings in shares of Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after buying an additional 348 shares during the period. UMB Bank n.a. raised its holdings in shares of Knight-Swift Transportation by 84.3% during 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 period. Venturi Wealth Management LLC raised its holdings in shares of Knight-Swift Transportation by 34.2% during 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 period. Finally, Quarry LP raised its holdings in shares of Knight-Swift Transportation by 71.1% during 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 period. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

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.