Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Sees Significant Decrease in Short Interest

Knight-Swift Transportation Holdings Inc. (NYSE:KNXGet Free Report) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 5,900,000 shares, a drop of 16.1% from the November 15th total of 7,030,000 shares. Based on an average daily trading volume, of 1,960,000 shares, the short-interest ratio is currently 3.0 days. Approximately 3.8% of the shares of the company are sold short.

Knight-Swift Transportation Stock Down 1.7 %

NYSE:KNX opened at $55.41 on Friday. The business’s fifty day moving average price is $54.91 and its 200 day moving average price is $52.20. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 245.18, a PEG ratio of 1.95 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation has a 1-year low of $45.55 and a 1-year high of $60.99.

Knight-Swift Transportation (NYSE:KNXGet Free Report) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, sell-side analysts forecast that Knight-Swift Transportation will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 278.27%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. purchased a new position in Knight-Swift Transportation in the third quarter valued at about $70,185,000. Interval Partners LP grew its stake in shares of Knight-Swift Transportation by 8,520.1% in the 2nd quarter. Interval Partners LP now owns 1,293,011 shares of the transportation company’s stock valued at $64,547,000 after buying an additional 1,278,011 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Knight-Swift Transportation by 1,728.8% in the second quarter. Thrivent Financial for Lutherans now owns 1,330,934 shares of the transportation company’s stock worth $66,440,000 after buying an additional 1,258,157 shares during the last quarter. Dimensional Fund Advisors LP raised its position in 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 valued at $271,121,000 after acquiring an additional 1,176,069 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Knight-Swift Transportation by 309.7% in the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after acquiring an additional 807,572 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on KNX shares. Morgan Stanley decreased their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a research report on Tuesday, November 12th. Barclays boosted their price objective on Knight-Swift Transportation from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Stifel Nicolaus raised their target price on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Raymond James boosted their price target on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.81.

Get Our Latest Analysis on Knight-Swift Transportation

About Knight-Swift Transportation

(Get Free Report)

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.

Further Reading

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