Zurcher Kantonalbank Zurich Cantonalbank Sells 86,633 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Knight-Swift Transportation by 60.4%, selling 86,633 shares, resulting in $2.47 million in value based on the latest report.
• Several large investors have increased their holdings in Knight-Swift Transportation, with Larson Financial Group growing its stake by 9,383.3% in the first quarter.
• Equity analysts have generally rated Knight-Swift Transportation positively, with an average target price of $53.88 and multiple upgrades in price targets from firms like Bank of America and Robert W. Baird.

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 60.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,842 shares of the transportation company's stock after selling 86,633 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Knight-Swift Transportation were worth $2,472,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Knight-Swift Transportation by 4.6% in the first quarter. Victory Capital Management Inc. now owns 8,344,372 shares of the transportation company's stock worth $362,897,000 after purchasing an additional 364,263 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Knight-Swift Transportation by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,991,354 shares of the transportation company's stock worth $370,819,000 after acquiring an additional 505,543 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Knight-Swift Transportation by 1.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,556,405 shares of the transportation company's stock worth $188,632,000 after acquiring an additional 63,241 shares in the last quarter. Interval Partners LP increased its stake in Knight-Swift Transportation by 320.7% during the 4th quarter. Interval Partners LP now owns 1,754,822 shares of the transportation company's stock worth $93,076,000 after purchasing an additional 1,337,727 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in Knight-Swift Transportation by 11.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,705,095 shares of the transportation company's stock worth $90,438,000 after purchasing an additional 179,980 shares during the period. 88.77% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Up 0.4%

Shares of KNX traded up $0.15 during trading hours on Wednesday, hitting $42.53. The stock had a trading volume of 1,905,596 shares, compared to its average volume of 2,901,414. Knight-Swift Transportation Holdings Inc. has a 1-year low of $36.69 and a 1-year high of $61.51. The firm has a market capitalization of $6.89 billion, a P/E ratio of 41.70, a price-to-earnings-growth ratio of 0.63 and a beta of 1.17. The firm has a 50 day simple moving average of $44.62 and a 200-day simple moving average of $46.00. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.89 and a quick ratio of 0.89.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on KNX. Robert W. Baird lifted their price target on shares of Knight-Swift Transportation from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Susquehanna raised their price target on shares of Knight-Swift Transportation from $45.00 to $52.00 and gave the stock a "positive" rating in a research report on Tuesday, June 24th. Barclays decreased their price target on Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Bank of America raised their price objective on Knight-Swift Transportation from $47.00 to $49.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, TD Securities cut their price objective on Knight-Swift Transportation from $55.00 to $49.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $53.88.

Knight-Swift Transportation 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.