Knight-Swift Transportation (NYSE:KNX) Shares Down 4.6% – Here’s Why

Knight-Swift Transportation Holdings Inc. (NYSE:KNX)’s stock price was down 4.6% during mid-day trading on Wednesday. The company traded as low as $60.15 and last traded at $60.0940. Approximately 414,803 shares changed hands during trading, a decline of 89% from the average daily volume of 3,664,290 shares. The stock had previously closed at $63.02.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KNX shares. Zacks Research lowered Knight-Swift Transportation from a “strong-buy” rating to a “hold” rating in a report on Friday, July 31st. Bank of America cut their price target on Knight-Swift Transportation from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Wells Fargo & Company reduced their target price on shares of Knight-Swift Transportation from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Thursday, October 22nd. Wall Street Zen lowered shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Weiss Ratings raised Knight-Swift Transportation from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.22.

Knight-Swift Transportation Stock Up 0.4%

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.91 and a quick ratio of 0.88. The business has a 50 day moving average of $65.98 and a 200 day moving average of $65.92. The firm has a market capitalization of $9.94 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 0.50 and a beta of 1.21.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Knight-Swift Transportation had a return on equity of 4.71% and a net margin of 1.92%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 earnings per share. On average, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.45 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, September 4th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, September 4th. Knight-Swift Transportation’s dividend payout ratio (DPR) is 86.02%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, CEO Reid Dove sold 126,864 shares of the business’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $73.13, for a total value of $9,277,564.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Vander Ploeg sold 2,200 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total transaction of $115,126.00. Following the transaction, the director directly owned 30,252 shares of the company’s stock, valued at $1,583,087.16. This represents a 6.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 171,354 shares of company stock worth $12,416,002 over the last ninety days. 2.90% of the stock is currently owned by insiders.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its position in Knight-Swift Transportation by 0.6% during the 3rd quarter. Oregon Public Employees Retirement Fund now owns 33,758 shares of the transportation company’s stock worth $2,147,000 after acquiring an additional 200 shares during the last quarter. Vise Technologies Inc. grew its position in shares of Knight-Swift Transportation by 104.8% during the 3rd quarter. Vise Technologies Inc. now owns 17,666 shares of the transportation company’s stock worth $1,123,000 after buying an additional 9,041 shares during the period. Glenview Trust Co bought a new position in Knight-Swift Transportation during the third quarter worth $5,521,000. Parcion Private Wealth LLC grew its stake in Knight-Swift Transportation by 23.3% in the third quarter. Parcion Private Wealth LLC now owns 4,370 shares of the transportation company’s stock valued at $278,000 after acquiring an additional 825 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new position in Knight-Swift Transportation during the third quarter worth $207,000. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.