Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Short Interest Update

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) saw a large 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 trading volume of 1,960,000 shares, the days-to-cover ratio is currently 3.0 days. Approximately 3.8% of the shares of the company are sold short.

Knight-Swift Transportation Price Performance

KNX opened at $55.43 on Friday. The company has a fifty day simple moving average of $55.03 and a 200 day simple moving average of $52.28. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.97 billion, a P/E ratio of 241.01, a P/E/G ratio of 1.89 and a beta of 0.96. Knight-Swift Transportation has a 12 month low of $45.55 and a 12 month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly 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 company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, research analysts expect that Knight-Swift Transportation will post 1.05 EPS for the current year.

Knight-Swift Transportation Announces Dividend

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

Analyst Ratings Changes

KNX has been the topic of several research reports. Susquehanna upped their price objective on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target on the stock. in a report on Tuesday, November 12th. The Goldman Sachs Group boosted their price objective on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday. Bank of America raised their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley dropped their price target on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $56.81.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of Knight-Swift Transportation stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the transaction, the director now directly owns 30,729 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total transaction of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Knight-Swift Transportation

Large investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC increased its holdings in Knight-Swift Transportation by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock worth $1,230,000 after purchasing an additional 196 shares in the last quarter. United Services Automobile Association raised its position in Knight-Swift Transportation by 1.6% in the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock valued at $637,000 after buying an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 200 shares in the last quarter. MML Investors Services LLC boosted its position in Knight-Swift Transportation by 4.6% during the 3rd quarter. MML Investors Services LLC now owns 5,182 shares of the transportation company’s stock worth $280,000 after acquiring an additional 228 shares during the last quarter. Finally, MQS Management LLC grew its stake in shares of Knight-Swift Transportation by 3.7% during the 2nd quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock worth $348,000 after acquiring an additional 250 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

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.