Shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) have received an average rating of “Buy” from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $43.20.
KNX has been the subject of several recent research reports. Citigroup reduced their price target on Cimarex Energy from $98.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday. Stephens set a $112.00 price target on Genesee & Wyoming and gave the stock a “hold” rating in a research report on Monday, July 1st. ValuEngine raised Knight-Swift Transportation from a “sell” rating to a “hold” rating in a research report on Sunday, June 30th. Finally, Morgan Stanley set a $36.00 price target on ArcBest and gave the stock a “hold” rating in a research report on Monday, July 8th.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KNX. FMR LLC grew its stake in Knight-Swift Transportation by 30.3% during the 1st quarter. FMR LLC now owns 16,940,629 shares of the transportation company’s stock worth $553,620,000 after buying an additional 3,944,181 shares during the last quarter. TimesSquare Capital Management LLC grew its stake in Knight-Swift Transportation by 194.2% during the 1st quarter. TimesSquare Capital Management LLC now owns 2,245,884 shares of the transportation company’s stock worth $73,395,000 after buying an additional 1,482,400 shares during the last quarter. Wasatch Advisors Inc. grew its stake in Knight-Swift Transportation by 20.5% during the 1st quarter. Wasatch Advisors Inc. now owns 5,933,741 shares of the transportation company’s stock worth $193,915,000 after buying an additional 1,009,719 shares during the last quarter. Norges Bank purchased a new position in Knight-Swift Transportation during the 4th quarter worth $18,781,000. Finally, CI Investments Inc. purchased a new position in Knight-Swift Transportation during the 4th quarter worth $16,754,000. 83.02% of the stock is owned by hedge funds and other institutional investors.
Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, April 24th. The transportation company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.31 billion. Knight-Swift Transportation had a return on equity of 8.69% and a net margin of 8.28%. Knight-Swift Transportation’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. Equities analysts anticipate that Knight-Swift Transportation will post 2.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 3rd were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.67%. The ex-dividend date was Friday, May 31st. Knight-Swift Transportation’s payout ratio is 9.38%.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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