Knight-Swift Transportation Holdings Inc (NYSE:KNX) saw unusually large options trading on Tuesday. Traders acquired 2,261 call options on the stock. This represents an increase of approximately 1,078% compared to the average volume of 192 call options.
Several analysts recently weighed in on KNX shares. Zacks Investment Research downgraded Knight-Swift Transportation from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 14th. KeyCorp upgraded Knight-Swift Transportation from a “sector weight” rating to an “overweight” rating in a research note on Tuesday, November 14th. Knight Equity raised Knight-Swift Transportation to a “buy” rating in a research report on Tuesday, November 14th. Morgan Stanley initiated coverage on Knight-Swift Transportation in a research report on Wednesday, December 13th. They issued an “overweight” rating and a $50.00 price objective on the stock. Finally, Cowen upped their price objective on Knight-Swift Transportation from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Knight-Swift Transportation has a consensus rating of “Buy” and a consensus target price of $49.60.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in KNX. Standard Life Aberdeen plc bought a new position in shares of Knight-Swift Transportation during the 4th quarter valued at $225,393,000. Bank of New York Mellon Corp lifted its holdings in shares of Knight-Swift Transportation by 97.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,427,755 shares of the transportation company’s stock valued at $350,174,000 after buying an additional 4,151,669 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Knight-Swift Transportation by 403.5% during the 4th quarter. Victory Capital Management Inc. now owns 1,800,988 shares of the transportation company’s stock valued at $78,740,000 after buying an additional 1,443,312 shares during the period. BlackRock Inc. lifted its holdings in shares of Knight-Swift Transportation by 6.0% during the 4th quarter. BlackRock Inc. now owns 14,341,294 shares of the transportation company’s stock valued at $627,000,000 after buying an additional 808,692 shares during the period. Finally, Hood River Capital Management LLC raised its holdings in Knight-Swift Transportation by 164.9% in the 3rd quarter. Hood River Capital Management LLC now owns 1,102,942 shares of the transportation company’s stock worth $45,827,000 after purchasing an additional 686,565 shares during the period. 80.52% of the stock is currently owned by hedge funds and other institutional investors.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Tuesday, January 30th. The transportation company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.13. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Knight-Swift Transportation had a return on equity of 5.92% and a net margin of 12.58%. The company’s revenue was up 370.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 EPS. sell-side analysts predict that Knight-Swift Transportation will post 2.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Thursday, March 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.24 annualized dividend and a dividend yield of 0.49%. Knight-Swift Transportation’s payout ratio is 8.35%.
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About Knight-Swift Transportation
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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