Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 239.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 84,625 shares of the transportation company’s stock after purchasing an additional 59,662 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Knight-Swift Transportation were worth $3,530,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Twin Tree Management LP boosted its stake in shares of Knight-Swift Transportation by 101.4% in the 1st quarter. Twin Tree Management LP now owns 786 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 58,086 shares during the last quarter. Bartlett & Co. LLC acquired a new position in Knight-Swift Transportation in the first quarter valued at $41,000. CSat Investment Advisory L.P. boosted its position in Knight-Swift Transportation by 20.6% during the first quarter. CSat Investment Advisory L.P. now owns 1,605 shares of the transportation company’s stock valued at $53,000 after acquiring an additional 274 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Knight-Swift Transportation during the second quarter valued at $71,000. Finally, Fifth Third Bancorp grew its holdings in Knight-Swift Transportation by 102.6% during the 1st quarter. Fifth Third Bancorp now owns 2,000 shares of the transportation company’s stock worth $66,000 after acquiring an additional 1,013 shares during the period. Hedge funds and other institutional investors own 85.50% of the company’s stock.
Shares of KNX stock opened at $43.49 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.85 and a quick ratio of 0.86. The firm has a 50-day moving average of $42.73 and a 200-day moving average of $37.86. Knight-Swift Transportation Holdings Inc has a one year low of $27.54 and a one year high of $47.32. The company has a market cap of $7.39 billion, a P/E ratio of 21.32, a P/E/G ratio of 1.33 and a beta of 1.36.
Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.22. Knight-Swift Transportation had a net margin of 6.28% and a return on equity of 6.14%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.08 billion. As a group, research analysts expect that Knight-Swift Transportation Holdings Inc will post 2.18 earnings per share for the current fiscal year.
Several brokerages recently commented on KNX. Citigroup upped their target price on Knight-Swift Transportation from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research report on Monday, July 27th. TheStreet raised shares of Knight-Swift Transportation from a “c+” rating to a “b” rating in a research note on Friday, April 24th. Stifel Nicolaus raised their price target on shares of Knight-Swift Transportation from $40.00 to $45.00 in a report on Thursday, July 23rd. Finally, UBS Group upped their price target on Knight-Swift Transportation from $38.00 to $41.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $48.47.
In related news, Chairman Kevin P. Knight sold 100,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $46.06, for a total value of $4,606,000.00. Following the transaction, the chairman now directly owns 3,317 shares of the company’s stock, valued at approximately $152,781.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Gary J. Knight sold 50,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $40.39, for a total transaction of $2,019,500.00. The disclosure for this sale can be found here. Insiders have sold 341,966 shares of company stock valued at $14,789,267 over the last ninety days. 27.50% of the stock is currently owned by company insiders.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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