Prudential Financial Inc. lessened its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) by 30.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,686 shares of the transportation company’s stock after selling 50,313 shares during the period. Prudential Financial Inc. owned 0.07% of Knight-Swift Transportation worth $5,520,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of KNX. Wellington Management Group LLP raised its position in shares of Knight-Swift Transportation by 13.4% during the 1st quarter. Wellington Management Group LLP now owns 8,219,189 shares of the transportation company’s stock worth $414,739,000 after purchasing an additional 972,139 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Knight-Swift Transportation by 94.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,841,620 shares of the transportation company’s stock worth $85,249,000 after purchasing an additional 892,933 shares during the period. Triton Wealth Management PLLC boosted its position in shares of Knight-Swift Transportation by 167.8% during the 3rd quarter. Triton Wealth Management PLLC now owns 1,213,512 shares of the transportation company’s stock worth $61,331,000 after purchasing an additional 760,288 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Knight-Swift Transportation during the 1st quarter worth approximately $27,013,000. Finally, Glenview Capital Management LLC purchased a new position in Knight-Swift Transportation in the 2nd quarter valued at approximately $22,918,000. Institutional investors and hedge funds own 89.95% of the company’s stock.
Knight-Swift Transportation Trading Up 3.3 %
NYSE KNX opened at $61.04 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.62 and a current ratio of 1.67. The firm has a market cap of $9.81 billion, a PE ratio of 12.90, a P/E/G ratio of 0.96 and a beta of 1.16. Knight-Swift Transportation Holdings Inc. has a one year low of $42.50 and a one year high of $62.63. The firm’s fifty day moving average is $55.14 and its two-hundred day moving average is $52.49.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last posted its quarterly earnings data on Thursday, January 26th. The transportation company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.13). The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.80 billion. Knight-Swift Transportation had a net margin of 10.38% and a return on equity of 12.17%. The company’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Analysts expect that Knight-Swift Transportation Holdings Inc. will post 4.1 earnings per share for the current year.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Stephens raised their price target on shares of Knight-Swift Transportation from $65.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. KeyCorp lifted their price objective on shares of Knight-Swift Transportation from $60.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, January 27th. Citigroup lifted their price objective on shares of Knight-Swift Transportation from $50.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Knight-Swift Transportation from $63.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, November 28th. Finally, Credit Suisse Group decreased their price objective on shares of Knight-Swift Transportation from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $63.06.
About Knight-Swift Transportation
Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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