Knight-Swift Transportation (NYSE:KNX) Shares Gap Down to $50.78

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $50.78, but opened at $46.02. Knight-Swift Transportation shares last traded at $48.88, with a volume of 8,330,427 shares traded.

Analyst Upgrades and Downgrades

KNX has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Knight-Swift Transportation from $54.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price objective on shares of Knight-Swift Transportation from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 9th. Susquehanna cut their target price on Knight-Swift Transportation from $62.00 to $59.00 and set a "neutral" rating for the company in a research note on Monday, March 25th. Finally, Barclays reduced their target price on Knight-Swift Transportation from $65.00 to $62.00 and set an "overweight" rating on the stock in a report on Monday, April 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.75.

Knight-Swift Transportation Stock Performance

The company has a fifty day moving average price of $55.30 and a two-hundred day moving average price of $54.27. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $7.85 billion, a P/E ratio of 38.18, a PEG ratio of 1.44 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last posted its earnings results on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.38). Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.35 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.32%. This is an increase from Knight-Swift Transportation's previous quarterly dividend of $0.14. The ex-dividend date was Thursday, March 7th. Knight-Swift Transportation's dividend payout ratio is presently 48.12%.

Insiders Place Their Bets

In related news, CAO Cary M. Flanagan sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $56.24, for a total value of $112,480.00. Following the transaction, the chief accounting officer now directly owns 5,118 shares of the company's stock, valued at $287,836.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in Knight-Swift Transportation during the first quarter valued at $25,000. Quarry LP bought a new stake in Knight-Swift Transportation in the fourth quarter worth approximately $33,000. GAMMA Investing LLC lifted its stake in Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company's stock valued at $35,000 after buying an additional 253 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Knight-Swift Transportation by 136.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 667 shares of the transportation company's stock worth $38,000 after buying an additional 385 shares in the last quarter. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of Knight-Swift Transportation during the 3rd quarter worth approximately $42,000. 88.77% of the stock is currently owned by institutional investors and hedge funds.

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.