Knight-Swift Transportation (NYSE:KNX) Updates Q2 Earnings Guidance

Knight-Swift Transportation (NYSE:KNX) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.26-0.30 for the period, compared to the consensus earnings per share estimate of $0.48. Knight-Swift Transportation also updated its Q1 guidance to $0.11-0.12 EPS.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stephens dropped their target price on Knight-Swift Transportation from $65.00 to $60.00 and set an overweight rating for the company in a report on Thursday. Bank of America dropped their target price on Knight-Swift Transportation from $58.00 to $54.00 and set a buy rating for the company in a report on Thursday. Barclays lowered their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday. TD Cowen lowered their price target on Knight-Swift Transportation from $58.00 to $52.00 and set a buy rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. lowered their price target on Knight-Swift Transportation from $62.00 to $60.00 and set a neutral rating for the company in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation currently has an average rating of Moderate Buy and an average price target of $57.77.

Knight-Swift Transportation Price Performance

KNX opened at $48.16 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.45 and a beta of 0.99. The stock’s 50-day moving average price is $54.60 and its 200 day moving average price is $54.18. Knight-Swift Transportation has a 12-month low of $45.73 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, January 24th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.38). The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. Knight-Swift Transportation had a net margin of 3.04% and a return on equity of 3.93%. As a group, sell-side analysts expect that Knight-Swift Transportation will post 2.2 earnings per share for the current year.

Knight-Swift Transportation Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a $0.16 dividend. The ex-dividend date was Thursday, March 7th. This represents a $0.64 dividend on an annualized basis and a yield of 1.33%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 48.12%.

Insider Transactions at Knight-Swift Transportation

In other news, CAO Cary M. Flanagan sold 2,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $56.24, for a total transaction of $112,480.00. Following the sale, the chief accounting officer now owns 5,118 shares of the company’s stock, valued at approximately $287,836.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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 made changes to their positions in the business. Quarry LP acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter worth about $33,000. Brown Brothers Harriman & Co. grew its stake in Knight-Swift Transportation by 543.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 939 shares of the transportation company’s stock worth $47,000 after buying an additional 793 shares during the last quarter. UniSuper Management Pty Ltd purchased a new position in Knight-Swift Transportation during the 2nd quarter worth approximately $61,000. Belpointe Asset Management LLC grew its stake in Knight-Swift Transportation by 21.8% during the 1st quarter. Belpointe Asset Management LLC now owns 1,285 shares of the transportation company’s stock worth $73,000 after buying an additional 230 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Knight-Swift Transportation by 13,727.3% during the 3rd quarter. Lazard Asset Management LLC now owns 1,521 shares of the transportation company’s stock worth $76,000 after buying an additional 1,510 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

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.