Blueshift Asset Management LLC Buys Shares of 6,240 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Key Points

• Blueshift Asset Management LLC has made a new investment of approximately $271,000 in Knight-Swift Transportation Holdings Inc., purchasing 6,240 shares in the first quarter.
• Several institutional investors have significantly increased their positions in Knight-Swift Transportation, resulting in institutional ownership of 88.77% of the company's stock.
• Analysts have raised the price targets for Knight-Swift Transportation, with Goldman Sachs upgrading its rating to "buy" and setting a new target price of $65.00.

Blueshift Asset Management LLC acquired a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,240 shares of the transportation company's stock, valued at approximately $271,000.

Several other institutional investors and hedge funds have also modified their holdings of KNX. LPL Financial LLC lifted its position in shares of Knight-Swift Transportation by 28.3% during the 4th quarter. LPL Financial LLC now owns 31,736 shares of the transportation company's stock worth $1,683,000 after buying an additional 6,991 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Knight-Swift Transportation by 20.0% during the 4th quarter. Prudential Financial Inc. now owns 25,364 shares of the transportation company's stock worth $1,345,000 after buying an additional 4,227 shares during the last quarter. Blair William & Co. IL lifted its position in shares of Knight-Swift Transportation by 40.0% during the 4th quarter. Blair William & Co. IL now owns 5,433 shares of the transportation company's stock worth $288,000 after buying an additional 1,551 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Knight-Swift Transportation during the 4th quarter worth $221,000. Finally, O Shaughnessy Asset Management LLC lifted its position in shares of Knight-Swift Transportation by 13.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 4,962 shares of the transportation company's stock worth $263,000 after buying an additional 604 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Trading Down 0.9%

KNX stock traded down $0.39 during mid-day trading on Thursday, reaching $42.13. The company's stock had a trading volume of 70,579 shares, compared to its average volume of 2,882,093. The company has a market cap of $6.83 billion, a price-to-earnings ratio of 41.29, a price-to-earnings-growth ratio of 0.63 and a beta of 1.17. The business's 50 day moving average price is $44.62 and its 200 day moving average price is $46.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 12 month low of $36.69 and a 12 month high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The transportation company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Knight-Swift Transportation had a return on equity of 3.03% and a net margin of 2.22%. The firm had revenue of $1.86 billion during the quarter, compared to analysts' expectations of $1.87 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The company's revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 22nd. Investors of record on Friday, September 5th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.7%. Knight-Swift Transportation's dividend payout ratio (DPR) is currently 70.59%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KNX shares. Wells Fargo & Company upped their price objective on Knight-Swift Transportation from $46.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Bank of America increased their target price on Knight-Swift Transportation from $47.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. TD Securities dropped their target price on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Raymond James Financial increased their target price on Knight-Swift Transportation from $50.00 to $55.00 and gave the company a "strong-buy" rating in a research report on Tuesday, July 15th. Finally, Susquehanna increased their target price on Knight-Swift Transportation from $45.00 to $52.00 and gave the company a "positive" rating in a research report on Tuesday, June 24th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $53.88.

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.