Zacks Research Comments on Knight-Swift Transportation Holdings Inc.’s Q3 2024 Earnings (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Stock analysts at Zacks Research reduced their Q3 2024 EPS estimates for shares of Knight-Swift Transportation in a research note issued to investors on Tuesday, September 24th. Zacks Research analyst S. Goswami now forecasts that the transportation company will post earnings of $0.35 per share for the quarter, down from their previous forecast of $0.36. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $1.10 per share.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The business had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The business’s revenue was up 18.9% compared to the same quarter last year.

KNX has been the subject of a number of other reports. UBS Group cut their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Bank of America increased their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Finally, StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $52.72 on Friday. Knight-Swift Transportation has a one year low of $45.55 and a one year high of $60.99. The stock has a market cap of $8.53 billion, a PE ratio of 78.69, a P/E/G ratio of 1.47 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day moving average price of $52.10 and a 200 day moving average price of $50.65.

Institutional Trading of Knight-Swift Transportation

A number of institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of Knight-Swift Transportation by 15.7% in the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. boosted its stake in Knight-Swift Transportation by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after acquiring an additional 57,000 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Knight-Swift Transportation by 10.9% during the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after purchasing an additional 744,412 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Knight-Swift Transportation by 27.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after purchasing an additional 1,176,069 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Knight-Swift Transportation by 7.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock valued at $180,101,000 after purchasing an additional 235,858 shares during the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 30,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the transaction, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the transaction, the chairman now owns 1,467,360 shares in the company, valued at $73,852,228.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Garnreiter sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the sale, the director now directly owns 17,648 shares in the company, valued at $892,459.36. The disclosure for this sale can be found here. Insiders sold 85,196 shares of company stock valued at $4,367,869 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.21%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 95.52%.

Knight-Swift Transportation Company Profile

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.