Knight-Swift Transportation (NYSE:KNX) Issues Quarterly Earnings Results

by · The Markets Daily

Knight-Swift Transportation (NYSE:KNXGet Free Report) issued its earnings results on Wednesday. The transportation company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.42), reports. Knight-Swift Transportation had a return on equity of 2.98% and a net margin of 1.90%.

Knight-Swift Transportation Price Performance

KNX stock traded up $2.71 on Wednesday, reaching $57.78. The company had a trading volume of 6,564,370 shares, compared to its average volume of 3,419,781. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.33 and a current ratio of 1.33. The company’s fifty day moving average is $50.93 and its 200 day moving average is $46.16. The company has a market cap of $9.38 billion, a P/E ratio of 65.66, a PEG ratio of 0.75 and a beta of 1.16. Knight-Swift Transportation has a 1 year low of $36.69 and a 1 year high of $61.51.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Knight-Swift Transportation from $58.00 to $60.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Morgan Stanley increased their price target on shares of Knight-Swift Transportation from $67.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Barclays boosted their price objective on shares of Knight-Swift Transportation from $50.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. Benchmark increased their target price on shares of Knight-Swift Transportation from $55.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Finally, Weiss Ratings upgraded shares of Knight-Swift Transportation from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average price target of $59.35.

Get Our Latest Stock Report on KNX

Insider Activity

In other news, Chairman Kevin P. Knight sold 35,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $51.01, for a total value of $1,785,350.00. Following the completion of the transaction, the chairman owned 1,405,347 shares of the company’s stock, valued at $71,686,750.47. The trade was a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Reed Stultz sold 4,692 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $51.51, for a total transaction of $241,684.92. Following the transaction, the senior vice president directly owned 465 shares in the company, valued at $23,952.15. The trade was a 90.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 43,992 shares of company stock worth $2,220,707 over the last three months. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Knight-Swift Transportation

A number of hedge funds have recently added to or reduced their stakes in KNX. Nomura Holdings Inc. acquired a new position in Knight-Swift Transportation during the second quarter worth approximately $507,000. Evergreen Capital Management LLC acquired a new stake in shares of Knight-Swift Transportation during the 2nd quarter worth $255,000. Oxford Asset Management LLP increased its holdings in shares of Knight-Swift Transportation by 32.2% during the 2nd quarter. Oxford Asset Management LLP now owns 7,358 shares of the transportation company’s stock worth $325,000 after buying an additional 1,793 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of Knight-Swift Transportation by 37.6% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 12,902 shares of the transportation company’s stock worth $571,000 after buying an additional 3,525 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Knight-Swift Transportation by 17.8% in the second quarter. Benjamin Edwards Inc. now owns 7,779 shares of the transportation company’s stock valued at $344,000 after acquiring an additional 1,175 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Company Profile

(Get Free Report)

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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