Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Free Report) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 6,560,000 shares, a growth of 6.8% from the December 31st total of 6,140,000 shares. Based on an average daily volume of 1,860,000 shares, the short-interest ratio is presently 3.5 days. Currently, 4.2% of the shares of the stock are sold short.
Knight-Swift Transportation Stock Performance
NYSE KNX traded up $0.39 on Tuesday, hitting $56.12. 780,793 shares of the stock were exchanged, compared to its average volume of 2,206,063. The business’s fifty day moving average is $55.42 and its 200 day moving average is $53.82. Knight-Swift Transportation has a 52 week low of $45.55 and a 52 week high of $61.51. The company has a market capitalization of $9.09 billion, a PE ratio of 76.88 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 1.01.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping 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%. Research analysts anticipate that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.
Knight-Swift Transportation Announces Dividend
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Susquehanna raised Knight-Swift Transportation from a “neutral” rating to a “positive” rating and boosted their price objective for the stock from $48.00 to $67.00 in a report on Friday, January 3rd. Stifel Nicolaus lifted their price target on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Barclays increased their price objective on shares of Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Raymond James lifted their target price on shares of Knight-Swift Transportation from $62.00 to $66.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average price target of $59.38.
Read Our Latest Report on Knight-Swift Transportation
Insiders Place Their Bets
In other news, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the transaction, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.
Institutional Investors Weigh In On Knight-Swift Transportation
A number of hedge funds and other institutional investors have recently made changes to their positions in KNX. Allspring Global Investments Holdings LLC boosted its position in shares of Knight-Swift Transportation by 3.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,201,276 shares of the transportation company’s stock worth $221,541,000 after acquiring an additional 125,827 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Knight-Swift Transportation by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,740,873 shares of the transportation company’s stock valued at $147,529,000 after purchasing an additional 46,436 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Knight-Swift Transportation by 34.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,412,869 shares of the transportation company’s stock valued at $76,224,000 after purchasing an additional 359,566 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Knight-Swift Transportation in the 3rd quarter valued at $70,185,000. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Knight-Swift Transportation by 0.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock worth $72,171,000 after buying an additional 6,803 shares in 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.
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