Knight-Swift Transportation (NYSE:KNX) Sets New 12-Month High – Time to Buy?

Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $73.36 and last traded at $72.95, with a volume of 3065034 shares trading hands. The stock had previously closed at $70.12.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KNX shares. TD Cowen increased their price objective on shares of Knight-Swift Transportation from $60.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Barclays increased their price objective on shares of Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, March 4th. UBS Group increased their price objective on shares of Knight-Swift Transportation from $66.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Benchmark increased their price objective on shares of Knight-Swift Transportation from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company boosted their target price on Knight-Swift Transportation from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.71.

Knight-Swift Transportation Trading Up 1.3%

The stock has a market cap of $12.21 billion, a P/E ratio of 357.73 and a beta of 1.15. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $62.81 and a two-hundred day moving average price of $57.14.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, April 22nd. The transportation company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.20). The company had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.85 billion. Knight-Swift Transportation had a net margin of 0.45% and a return on equity of 2.94%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. On average, research analysts expect that Knight-Swift Transportation Holdings Inc. will post 2.12 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Monday, June 8th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. Knight-Swift Transportation’s payout ratio is currently 380.95%.

Hedge Funds Weigh In On Knight-Swift Transportation

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its position in Knight-Swift Transportation by 123.9% in the 1st quarter. Blue Trust Inc. now owns 544 shares of the transportation company’s stock valued at $31,000 after acquiring an additional 301 shares during the last quarter. Clearstead Advisors LLC grew its position in Knight-Swift Transportation by 134.6% in the 4th quarter. Clearstead Advisors LLC now owns 671 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 385 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in Knight-Swift Transportation by 1,478.6% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 884 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 828 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Knight-Swift Transportation in the 4th quarter valued at $39,000. Finally, MMA Asset Management LLC bought a new position in Knight-Swift Transportation in the 3rd quarter valued at $41,000. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc (NYSE: KNX) is one of North America’s largest asset-based truckload carriers, offering a wide range of transportation and logistics services. The company was formed in 2017 through the merger of Knight Transportation and Swift Transportation, each with decades of experience in long-haul dry van and refrigerated freight. Since the merger, Knight-Swift has pursued a growth strategy that includes fleet expansions, targeted acquisitions, and investments in technology to enhance service reliability and network efficiency.

The company’s core business activities include full truckload operations for dry van, temperature-controlled and flatbed shipments.