Knight-Swift Transportation (NYSE:KNX) Shares Down 4.6% - Time to Sell?

Key Points

• Knight-Swift Transportation shares fell 4.6% to about $60.09 in light trading, below both its 50-day and 200-day moving averages.
• Despite the decline, analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $83.22.
• The company exceeded quarterly expectations, reporting $0.83 EPS versus $0.76 expected and $2.20 billion in revenue, up 14.2% year over year; it also maintains a $0.20 quarterly dividend, yielding about 1.3%.

Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Get Free Report)'s share price fell 4.6% during mid-day trading on Wednesday. The company traded as low as $60.15 and last traded at $60.0940. 414,803 shares traded hands during trading, a decline of 89% from the average session volume of 3,664,290 shares. The stock had previously closed at $63.02.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Susquehanna boosted their price target on shares of Knight-Swift Transportation from $85.00 to $93.00 and gave the stock a "positive" rating in a research note on Monday. Benchmark increased their price target on Knight-Swift Transportation from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Wells Fargo & Company decreased their price objective on Knight-Swift Transportation from $81.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, October 22nd. Raymond James Financial reissued a "strong-buy" rating and set a $84.00 price objective on shares of Knight-Swift Transportation in a research report on Thursday, October 22nd. Finally, Citigroup restated a "market outperform" rating on shares of Knight-Swift Transportation in a research note on Thursday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.22.

Knight-Swift Transportation Stock Down 3.5%

The business has a 50 day moving average of $66.35 and a 200-day moving average of $65.88. The stock has a market cap of $9.90 billion, a PE ratio of 65.46, a P/E/G ratio of 0.48 and a beta of 1.21. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 21st. The transportation company reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.07. Knight-Swift Transportation had a net margin of 1.92% and a return on equity of 4.71%. The firm had revenue of $2.20 billion during the quarter, compared to analysts' expectations of $2.16 billion. During the same quarter in the prior year, the business earned $0.32 EPS. Knight-Swift Transportation's quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 2.45 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 21st. Investors of record on Friday, September 4th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Friday, September 4th. Knight-Swift Transportation's dividend payout ratio is currently 86.02%.

Insider Activity

In other news, CAO Cary M. Flanagan sold 3,600 shares of Knight-Swift Transportation stock in a transaction on Friday, July 31st. The stock was sold at an average price of $70.82, for a total transaction of $254,952.00. Following the completion of the transaction, the chief accounting officer owned 5,405 shares of the company's stock, valued at $382,782.10. The trade was a 39.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David Vander Ploeg sold 2,200 shares of the firm's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $52.33, for a total value of $115,126.00. Following the transaction, the director directly owned 30,252 shares of the company's stock, valued at $1,583,087.16. The trade was a 6.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 224,954 shares of company stock valued at $16,183,454 in the last three months. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Knight-Swift Transportation by 0.7% in the first quarter. Dimensional Fund Advisors LP now owns 8,458,088 shares of the transportation company's stock valued at $486,995,000 after buying an additional 60,750 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Knight-Swift Transportation in the second quarter valued at $173,669,000. Sei Investments Co. boosted its stake in Knight-Swift Transportation by 24.7% in the 1st quarter. Sei Investments Co. now owns 842,644 shares of the transportation company's stock worth $48,519,000 after buying an additional 166,919 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Knight-Swift Transportation by 38.9% in the 1st quarter. Principal Financial Group Inc. now owns 595,649 shares of the transportation company's stock worth $34,297,000 after buying an additional 166,668 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Knight-Swift Transportation by 36.1% in the 1st quarter. First Trust Advisors LP now owns 523,801 shares of the transportation company's stock valued at $30,160,000 after buying an additional 138,949 shares during the period. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc is a transportation and logistics company that provides freight services across North America. The company operates one of the largest truckload fleets in the United States and serves a broad range of industries through its network of company-owned equipment, independent contractors, terminals and distribution facilities.

Its services include dry-van, refrigerated and flatbed truckload transportation; dedicated and expedited delivery; less-than-truckload shipping; freight brokerage; intermodal transportation; cross-border logistics; and warehousing and other supply-chain services.

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