Storgate LLC Invests $645,000 in Knight-Swift Transportation Holdings Inc. $KNX

Key Points

• Storgate LLC disclosed a new fourth-quarter position in Knight-Swift Transportation, buying 12,328 shares valued at about $645,000.
• Several other institutional investors also increased or initiated stakes, and institutions now own 88.77% of the company’s shares.
• Analysts remain broadly positive on KNX, with multiple recent target hikes and an average price target of $70.19, even as the company’s latest quarterly EPS of $0.09 missed estimates.

Storgate LLC acquired a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,328 shares of the transportation company's stock, valued at approximately $645,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clearstead Advisors LLC boosted its position in shares of Knight-Swift Transportation by 134.6% during the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company's stock worth $35,000 after purchasing an additional 385 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Knight-Swift Transportation during the 4th quarter worth about $39,000. Fifth Third Bancorp boosted its position in shares of Knight-Swift Transportation by 44.4% during the 4th quarter. Fifth Third Bancorp now owns 868 shares of the transportation company's stock worth $45,000 after purchasing an additional 267 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Knight-Swift Transportation by 1,478.6% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company's stock worth $35,000 after purchasing an additional 828 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Knight-Swift Transportation by 54.2% during the 4th quarter. Farther Finance Advisors LLC now owns 956 shares of the transportation company's stock worth $50,000 after purchasing an additional 336 shares in the last quarter. Institutional investors own 88.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KNX. Weiss Ratings upgraded shares of Knight-Swift Transportation from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, April 15th. Stifel Nicolaus boosted their target price on shares of Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. TD Cowen boosted their target price on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the stock a "buy" rating in a research report on Thursday, April 23rd. Evercore raised shares of Knight-Swift Transportation from an "in-line" rating to an "outperform" rating and set a $65.00 target price for the company in a research report on Friday, March 27th. Finally, Robert W. Baird boosted their target price on shares of Knight-Swift Transportation from $62.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.19.

Knight-Swift Transportation Stock Down 1.3%

Knight-Swift Transportation stock opened at $81.34 on Friday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $38.63 and a fifty-two week high of $82.86. The stock has a market cap of $13.22 billion, a PE ratio of 387.35, a price-to-earnings-growth ratio of 1.05 and a beta of 1.18. The firm's 50-day simple moving average is $68.08 and its 200 day simple moving average is $59.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.70 and a current ratio of 0.70.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The firm had revenue of $1.85 billion for the quarter, compared to analysts' expectations of $1.85 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.14 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Monday, June 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 8th. This represents a $0.80 annualized dividend and a yield of 1.0%. Knight-Swift Transportation's payout ratio is 380.95%.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc NYSE: KNX is one of North America's largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company's core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.

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