Readystate Asset Management LP Purchases Shares of 14,046 Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Readystate Asset Management LP acquired a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,046 shares of the transportation company's stock, valued at approximately $611,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new position in shares of Knight-Swift Transportation in the first quarter worth about $4,073,000. Mader & Shannon Wealth Management Inc. raised its holdings in Knight-Swift Transportation by 15.2% in the 1st quarter. Mader & Shannon Wealth Management Inc. now owns 141,284 shares of the transportation company's stock valued at $6,144,000 after buying an additional 18,593 shares during the last quarter. Csenge Advisory Group bought a new position in Knight-Swift Transportation in the 1st quarter valued at approximately $536,000. Forum Financial Management LP raised its holdings in Knight-Swift Transportation by 16.4% in the 1st quarter. Forum Financial Management LP now owns 5,518 shares of the transportation company's stock valued at $240,000 after buying an additional 776 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in Knight-Swift Transportation by 14.5% in the 1st quarter. Verdence Capital Advisors LLC now owns 8,340 shares of the transportation company's stock valued at $363,000 after buying an additional 1,058 shares during the last quarter. Institutional investors own 88.77% of the company's stock.

Wall Street Analyst Weigh In

KNX has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on shares of Knight-Swift Transportation from $46.00 to $50.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. The Goldman Sachs Group raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and increased their target price for the company from $45.00 to $65.00 in a research report on Monday, June 2nd. TD Cowen decreased their target price on shares of 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. Evercore ISI decreased their target price on shares of Knight-Swift Transportation from $49.00 to $44.00 and set an "in-line" rating for the company in a research report on Thursday, April 24th. Finally, Benchmark reissued a "buy" rating and set a $63.00 target price on shares of Knight-Swift Transportation in a research report on Monday, April 14th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $53.56.

Knight-Swift Transportation Trading Down 0.1%

KNX traded down $0.03 during trading hours on Thursday, reaching $45.63. 8,481,894 shares of the company's stock traded hands, compared to its average volume of 2,456,763. The firm has a 50-day moving average price of $44.82 and a 200 day moving average price of $46.70. Knight-Swift Transportation Holdings Inc. has a 52-week low of $36.69 and a 52-week high of $61.51. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $7.39 billion, a PE ratio of 44.73, a PEG ratio of 0.68 and a beta of 1.17.

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

Knight-Swift Transportation Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Shareholders of record on Monday, June 9th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Monday, June 9th. Knight-Swift Transportation's dividend payout ratio (DPR) is presently 76.60%.

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.