Knight-Swift Transportation (KNX) Shares Down 6.8%

Shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) were down 6.8% during mid-day trading on Monday . The stock traded as low as $29.17 and last traded at $29.34. Approximately 2,666,348 shares traded hands during mid-day trading, an increase of 24% from the average daily volume of 2,150,833 shares. The stock had previously closed at $31.48.

Several analysts have issued reports on KNX shares. ValuEngine downgraded shares of Knight-Swift Transportation from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. TheStreet raised shares of Knight-Swift Transportation from a “c+” rating to a “b-” rating in a report on Wednesday, February 13th. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, February 1st. Finally, Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Knight-Swift Transportation currently has an average rating of “Buy” and a consensus price target of $44.45.

The firm has a market cap of $5.08 billion, a PE ratio of 12.11, a PEG ratio of 0.73 and a beta of 1.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.07.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, April 24th. The transportation company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. Knight-Swift Transportation had a net margin of 8.28% and a return on equity of 8.69%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, analysts predict that Knight-Swift Transportation Holdings Inc will post 2.69 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Friday, May 31st. Knight-Swift Transportation’s dividend payout ratio is presently 9.38%.

In other news, VP Shannon Breen sold 750 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $34.09, for a total value of $25,567.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Gary J. Knight sold 180,368 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $33.18, for a total transaction of $5,984,610.24. The disclosure for this sale can be found here. In the last three months, insiders sold 336,828 shares of company stock valued at $11,196,519. Company insiders own 27.50% of the company’s stock.

Large investors have recently bought and sold shares of the company. First Hawaiian Bank acquired a new position in shares of Knight-Swift Transportation in the first quarter valued at approximately $54,000. Enterprise Financial Services Corp acquired a new position in Knight-Swift Transportation during the first quarter worth approximately $71,000. We Are One Seven LLC acquired a new position in Knight-Swift Transportation during the fourth quarter worth approximately $74,000. Oregon Public Employees Retirement Fund increased its position in Knight-Swift Transportation by 2,585.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,390,048 shares of the transportation company’s stock worth $95,000 after purchasing an additional 2,301,060 shares during the last quarter. Finally, Ffcm LLC acquired a new position in Knight-Swift Transportation during the fourth quarter worth approximately $106,000. 82.06% of the stock is owned by institutional investors and hedge funds.

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About Knight-Swift Transportation (NYSE:KNX)

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

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