Knight-Swift Transportation (NYSE:KNX) Sets New 1-Year High - Here's What Happened

Key Points

• Knight-Swift Transportation shares hit a new 52-week high, reaching $71.63 intraday after rising about 3.8% on the day.
• Analysts remain generally positive on the stock, with recent price-target increases from firms including Robert W. Baird, Stifel Nicolaus, Barclays, and UBS. The current consensus rating is Moderate Buy with an average target price of $66.71.
• The company recently reported quarterly EPS of $0.09, missing expectations, while revenue of $1.85 billion matched estimates. It also announced a quarterly dividend of $0.20 per share, payable June 22.

Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $71.63 and last traded at $70.9810, with a volume of 5420705 shares trading hands. The stock had previously closed at $68.37.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KNX shares. Stephens decreased their price objective on Knight-Swift Transportation from $65.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, January 22nd. Robert W. Baird boosted their price objective on Knight-Swift Transportation from $62.00 to $70.00 and gave the company an "outperform" rating in a report on Thursday, April 23rd. Stifel Nicolaus upped their price target on Knight-Swift Transportation from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Barclays upped their price target on Knight-Swift Transportation from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, March 4th. Finally, UBS Group upped their price target on Knight-Swift Transportation from $66.00 to $79.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $66.71.

Knight-Swift Transportation Stock Up 3.8%

The company has a market cap of $11.53 billion, a price-to-earnings ratio of 338.02 and a beta of 1.15. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $60.60 and a two-hundred day moving average of $55.99.

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 analysts' consensus estimates of $0.29 by ($0.20). The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.85 billion. Knight-Swift Transportation had a return on equity of 2.94% and a net margin of 0.45%.The business's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 2.12 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Monday, June 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, June 8th. Knight-Swift Transportation's payout ratio is 380.95%.

Insider Activity at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $61.00, for a total transaction of $1,830,000.00. Following the completion of the sale, the chairman directly owned 1,305,347 shares in the company, valued at approximately $79,626,167. The trade was a 2.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joshua Smith sold 5,770 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $60.91, for a total value of $351,450.70. Following the sale, the chief financial officer owned 9,214 shares of the company's stock, valued at approximately $561,224.74. This trade represents a 38.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently bought and sold shares of KNX. Blue Trust Inc. increased its stake in Knight-Swift Transportation by 123.9% during the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company's stock worth $31,000 after buying an additional 301 shares in the last quarter. Clearstead Advisors LLC increased its stake in 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 buying an additional 385 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in 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 buying an additional 828 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Knight-Swift Transportation during the 4th quarter worth approximately $39,000. Finally, MMA Asset Management LLC acquired a new stake in shares of Knight-Swift Transportation in the third quarter valued at approximately $41,000. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

About Knight-Swift Transportation

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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