Kevin P. Knight Sells 29,779 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Stock

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Chairman Kevin P. Knight sold 29,779 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Knight-Swift Transportation Price Performance

KNX stock opened at $55.63 on Friday. The company has a market capitalization of $9.01 billion, a PE ratio of 241.88, a price-to-earnings-growth ratio of 2.09 and a beta of 0.93. The company’s fifty day moving average price is $52.97 and its 200-day moving average price is $50.94. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s payout ratio is 278.27%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KNX shares. JPMorgan Chase & Co. boosted their target price on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Morgan Stanley cut their price objective 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. Evercore ISI raised their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Stifel Nicolaus boosted their price target on Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective on the stock. in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.38.

Institutional Investors Weigh In On Knight-Swift Transportation

Several large investors have recently added to or reduced their stakes in KNX. Versant Capital Management Inc lifted its stake in shares of Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Knight-Swift Transportation by 87.2% in the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after buying an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Knight-Swift Transportation by 50.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 579 shares during the period. 88.77% of the stock is owned by institutional investors.

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.