Brokers Issue Forecasts for Knight-Swift Transportation Holdings Inc.’s Q3 2024 Earnings (NYSE:KNX)

Knight-Swift Transportation Holdings Inc. (NYSE:KNX) – Zacks Research reduced their Q3 2024 earnings estimates for Knight-Swift Transportation in a note issued to investors on Tuesday, September 24th. Zacks Research analyst S. Goswami now anticipates that the transportation company will post earnings of $0.35 per share for the quarter, down from their prior forecast of $0.36. The consensus estimate for Knight-Swift Transportation’s current full-year earnings is $1.10 per share.

KNX has been the topic of several other reports. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Bank of America upped their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Susquehanna upped their price objective on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $54.05 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The stock has a market cap of $8.75 billion, a P/E ratio of 80.67, a PEG ratio of 1.47 and a beta of 0.93. Knight-Swift Transportation has a twelve month low of $45.55 and a twelve month high of $60.99. The company’s 50-day simple moving average is $52.24 and its 200 day simple moving average is $50.65.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business’s revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS.

Institutional Investors Weigh In On Knight-Swift Transportation

Large investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Knight-Swift Transportation in the first quarter valued at approximately $25,000. GAMMA Investing LLC increased its stake in Knight-Swift Transportation by 67.5% in the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after purchasing an additional 253 shares in the last quarter. Versant Capital Management Inc increased its stake in Knight-Swift Transportation by 3,461.9% in the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Knight-Swift Transportation by 28.6% in the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 343 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Activity at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the transaction, the chairman now directly owns 1,422,360 shares in the company, valued at $73,294,210.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the sale, the chairman now owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The disclosure for this sale can be found here. Insiders have sold 85,196 shares of company stock worth $4,367,869 over the last ninety days. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Friday, September 6th were issued a $0.16 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.18%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Knight-Swift Transportation Company Profile

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.