Empirical Finance LLC purchased a new position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,532 shares of the transportation company’s stock, valued at approximately $888,000.
A number of other hedge funds also recently modified their holdings of KNX. Eagle Bay Advisors LLC purchased a new stake in Knight-Swift Transportation during the second quarter worth approximately $32,000. Sandy Spring Bank raised its holdings in shares of Knight-Swift Transportation by 40.0% during the second quarter. Sandy Spring Bank now owns 770 shares of the transportation company’s stock worth $35,000 after purchasing an additional 220 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Knight-Swift Transportation by 144.4% during the second quarter. Quadrant Capital Group LLC now owns 1,046 shares of the transportation company’s stock worth $48,000 after purchasing an additional 618 shares during the period. Captrust Financial Advisors increased its holdings in shares of Knight-Swift Transportation by 377.1% in the 1st quarter. Captrust Financial Advisors now owns 1,169 shares of the transportation company’s stock worth $56,000 after acquiring an additional 924 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Knight-Swift Transportation by 15.2% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,645 shares of the transportation company’s stock worth $127,000 after acquiring an additional 349 shares during the period. 87.32% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on KNX shares. Citigroup increased their target price on shares of Knight-Swift Transportation from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, July 14th. Raymond James assumed coverage on shares of Knight-Swift Transportation in a research report on Thursday, September 9th. They issued an “outperform” rating and a $60.00 price target for the company. They noted that the move was a valuation call. Susquehanna cut their price objective on shares of Knight-Swift Transportation from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, July 22nd. Credit Suisse Group increased their price target on Knight-Swift Transportation from $50.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, July 22nd. Finally, Cowen upgraded shares of Knight-Swift Transportation from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $59.00 to $62.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $55.39.
NYSE KNX opened at $51.72 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 1-year low of $37.07 and a 1-year high of $54.00. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average of $50.16 and a 200-day moving average of $48.22. The firm has a market cap of $8.58 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.87 and a beta of 1.27.
Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Tuesday, July 20th. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. Knight-Swift Transportation had a return on equity of 10.01% and a net margin of 10.88%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the prior year, the company earned $0.57 EPS. The business’s revenue was up 24.0% compared to the same quarter last year. As a group, equities research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 27th. Shareholders of record on Friday, September 3rd will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $0.40 annualized dividend and a yield of 0.77%. Knight-Swift Transportation’s dividend payout ratio is 14.65%.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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