Jupiter Asset Management Ltd. purchased a new stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 54,660 shares of the transportation company’s stock, valued at approximately $3,037,000.
Several other large investors have also recently bought and sold shares of KNX. Raymond James & Associates raised its holdings in Knight-Swift Transportation by 22.1% in the 1st quarter. Raymond James & Associates now owns 76,395 shares of the transportation company’s stock valued at $3,855,000 after acquiring an additional 13,808 shares during the period. US Bancorp DE raised its holdings in Knight-Swift Transportation by 57.6% in the 1st quarter. US Bancorp DE now owns 14,450 shares of the transportation company’s stock valued at $729,000 after acquiring an additional 5,283 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Knight-Swift Transportation by 23.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 13,997 shares of the transportation company’s stock valued at $706,000 after acquiring an additional 2,677 shares during the period. Great West Life Assurance Co. Can raised its holdings in Knight-Swift Transportation by 3.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 211,351 shares of the transportation company’s stock valued at $11,126,000 after acquiring an additional 7,824 shares during the period. Finally, Sei Investments Co. raised its holdings in Knight-Swift Transportation by 6.7% in the 1st quarter. Sei Investments Co. now owns 141,380 shares of the transportation company’s stock valued at $7,135,000 after acquiring an additional 8,923 shares during the period. 87.88% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
KNX has been the topic of several recent research reports. Susquehanna lowered their target price on shares of Knight-Swift Transportation from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, October 3rd. StockNews.com initiated coverage on shares of Knight-Swift Transportation in a report on Thursday, October 5th. They set a “sell” rating on the stock. JPMorgan Chase & Co. raised shares of Knight-Swift Transportation from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $54.00 to $57.00 in a report on Friday, October 20th. TheStreet cut shares of Knight-Swift Transportation from a “b-” rating to a “c+” rating in a report on Wednesday, October 18th. Finally, Raymond James raised their target price on shares of Knight-Swift Transportation from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $63.19.
Knight-Swift Transportation Stock Performance
Shares of Knight-Swift Transportation stock opened at $51.48 on Friday. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.73 and a fifty-two week high of $64.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $8.31 billion, a P/E ratio of 22.19, a P/E/G ratio of 1.65 and a beta of 1.19. The company’s 50 day moving average price is $50.18 and its two-hundred day moving average price is $54.12.
Knight-Swift Transportation (NYSE:KNX – Get Free Report) last issued its earnings results on Thursday, October 19th. The transportation company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Knight-Swift Transportation had a net margin of 5.41% and a return on equity of 6.03%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter last year, the business posted $1.27 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.09 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 Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.14 dividend. The ex-dividend date is Thursday, December 7th. This represents a $0.56 dividend on an annualized basis and a yield of 1.09%. Knight-Swift Transportation’s dividend payout ratio is currently 24.14%.
About Knight-Swift Transportation
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 transportations services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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