Econ Financial Services Corp Takes $1.71 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Econ Financial Services Corp bought a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 39,255 shares of the transportation company's stock, valued at approximately $1,707,000.

A number of other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of Knight-Swift Transportation by 88.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 685 shares of the transportation company's stock valued at $36,000 after purchasing an additional 322 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Knight-Swift Transportation by 40.0% during the 1st quarter. UMB Bank n.a. now owns 1,133 shares of the transportation company's stock worth $49,000 after acquiring an additional 324 shares during the period. Quarry LP grew its stake in shares of Knight-Swift Transportation by 41.6% during the 4th quarter. Quarry LP now owns 1,701 shares of the transportation company's stock worth $90,000 after acquiring an additional 500 shares during the period. Generali Asset Management SPA SGR bought a new position in shares of Knight-Swift Transportation during the 4th quarter worth $99,000. Finally, Quadrant Capital Group LLC grew its stake in shares of Knight-Swift Transportation by 21.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,139 shares of the transportation company's stock worth $113,000 after acquiring an additional 375 shares during the period. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX traded up $0.90 during trading hours on Friday, reaching $45.12. 2,536,222 shares of the stock traded hands, compared to its average volume of 2,379,638. The company has a market capitalization of $7.31 billion, a P/E ratio of 48.00, a price-to-earnings-growth ratio of 0.67 and a beta of 1.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.30. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The company's 50-day simple moving average is $43.02 and its two-hundred day simple moving average is $47.63.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 2.79% and a net margin of 2.04%. The business's quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 EPS. Equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were given a dividend of $0.18 per share. The ex-dividend date was Monday, June 9th. This represents a $0.72 annualized dividend and a dividend yield of 1.60%. Knight-Swift Transportation's dividend payout ratio is presently 76.60%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on KNX shares. TD Cowen cut their price target on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group upgraded Knight-Swift Transportation from a "neutral" rating to a "buy" rating and raised their target price for the stock from $45.00 to $65.00 in a research note on Monday, June 2nd. Bank of America raised their target price on Knight-Swift Transportation from $43.00 to $48.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Stifel Nicolaus cut their target price on Knight-Swift Transportation from $57.00 to $49.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Finally, Raymond James Financial cut their target price on Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating for the company in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Knight-Swift Transportation has a consensus rating of "Moderate Buy" and a consensus price target of $53.13.

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.