Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Chairman Kevin P. Knight Sells 45,000 Shares

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Knight-Swift Transportation Stock Up 3.9 %

NYSE:KNX traded up $1.99 during trading hours on Tuesday, hitting $53.45. The company’s stock had a trading volume of 986,504 shares, compared to its average volume of 2,147,821. The stock has a market capitalization of $8.64 billion, a P/E ratio of 79.76, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. The stock has a fifty day moving average of $49.36 and a 200-day moving average of $51.97. The company has a current ratio of 0.88, a quick ratio of 0.93 and a debt-to-equity ratio of 0.24. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 18.9% on a year-over-year basis. On average, equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.13 earnings per share for the current year.

Hedge Funds Weigh In On Knight-Swift Transportation

Several large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Knight-Swift Transportation by 10.9% in the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock valued at $379,133,000 after acquiring an additional 744,412 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of Knight-Swift Transportation by 1.1% during the second quarter. Fiera Capital Corp now owns 404,352 shares of the transportation company’s stock worth $20,185,000 after buying an additional 4,534 shares during the last quarter. Versor Investments LP grew its holdings in shares of Knight-Swift Transportation by 33.3% during the second quarter. Versor Investments LP now owns 12,300 shares of the transportation company’s stock worth $614,000 after buying an additional 3,076 shares during the last quarter. CIBC Asset Management Inc grew its holdings in shares of Knight-Swift Transportation by 8.2% during the second quarter. CIBC Asset Management Inc now owns 4,517 shares of the transportation company’s stock worth $225,000 after buying an additional 343 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Knight-Swift Transportation by 0.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock valued at $1,230,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KNX shares. Wells Fargo & Company started coverage on Knight-Swift Transportation in a research note on Friday, June 7th. They set an “overweight” rating and a $56.00 price objective for the company. Barclays cut their price target on Knight-Swift Transportation from $62.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, April 18th. TD Cowen lifted their price objective on Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $56.79.

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 transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.