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

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 6,150,000 shares, a drop of 29.1% from the February 28th total of 8,670,000 shares. Currently, 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,700,000 shares, the short-interest ratio is currently 2.3 days.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock traded up $0.25 during trading hours on Tuesday, hitting $43.74. 2,585,446 shares of the company were exchanged, compared to its average volume of 2,216,547. The stock has a market capitalization of $7.08 billion, a price-to-earnings ratio of 59.91 and a beta of 0.97. Knight-Swift Transportation has a 1 year low of $42.31 and a 1 year high of $61.51. The business has a 50-day moving average of $50.76 and a 200-day moving average of $53.03. The company has a current ratio of 0.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, January 22nd. The transportation company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Knight-Swift Transportation had a return on equity of 2.43% and a net margin of 1.59%. As a group, analysts expect that Knight-Swift Transportation will post 2.13 EPS for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Friday, March 7th were paid a $0.18 dividend. This is an increase from Knight-Swift Transportation’s previous quarterly dividend of $0.16. This represents a $0.72 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, March 7th. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 98.63%.

Insider Activity

In related news, Director Douglas L. Col acquired 5,000 shares of Knight-Swift Transportation stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $45.37 per share, for a total transaction of $226,850.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $226,850. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.00% of the company’s stock.

Institutional Trading of Knight-Swift Transportation

A number of institutional investors have recently bought and sold shares of KNX. Quest Partners LLC purchased a new position in shares of Knight-Swift Transportation during the 3rd quarter worth approximately $88,000. Charles Schwab Investment Management Inc. boosted its position in Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company’s stock worth $61,878,000 after acquiring an additional 26,346 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Knight-Swift Transportation by 9.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,197 shares of the transportation company’s stock worth $658,000 after purchasing an additional 1,100 shares during the period. Bank of Montreal Can increased its stake in shares of Knight-Swift Transportation by 180.6% during the 3rd quarter. Bank of Montreal Can now owns 81,266 shares of the transportation company’s stock valued at $4,392,000 after acquiring an additional 52,309 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Knight-Swift Transportation by 116.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock worth $7,056,000 after buying an additional 70,276 shares during the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup upgraded Knight-Swift Transportation from a “sell” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Monday, March 10th. Bank of America lowered Knight-Swift Transportation from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $66.00 to $46.00 in a research note on Tuesday. The Goldman Sachs Group raised their target price on Knight-Swift Transportation from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Wells Fargo & Company lowered their price target on shares of Knight-Swift Transportation from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Finally, TD Cowen upped their price objective on shares of Knight-Swift Transportation from $62.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.59.

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.