Pitcairn Co. Buys New Position in Knight-Swift Transportation Holdings Inc (KNX)

Pitcairn Co. bought a new position in Knight-Swift Transportation Holdings Inc (NYSE:KNX) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,482 shares of the transportation company’s stock, valued at approximately $361,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Knight-Swift Transportation by 24.3% in the 2nd quarter. Millennium Management LLC now owns 4,563,750 shares of the transportation company’s stock worth $174,381,000 after buying an additional 893,003 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Knight-Swift Transportation by 28.3% in the 2nd quarter. Citadel Advisors LLC now owns 4,297,340 shares of the transportation company’s stock worth $164,202,000 after buying an additional 947,818 shares during the last quarter. Waddell & Reed Financial Inc. boosted its stake in shares of Knight-Swift Transportation by 16.0% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,303,473 shares of the transportation company’s stock worth $88,016,000 after buying an additional 317,777 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of Knight-Swift Transportation by 58.4% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 2,291,961 shares of the transportation company’s stock worth $79,027,000 after purchasing an additional 844,673 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in shares of Knight-Swift Transportation by 111.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,699,478 shares of the transportation company’s stock worth $64,937,000 after purchasing an additional 896,212 shares during the period. Hedge funds and other institutional investors own 79.93% of the company’s stock.

Shares of KNX stock opened at $33.59 on Thursday. The company has a current ratio of 1.43, a quick ratio of 1.47 and a debt-to-equity ratio of 0.17. Knight-Swift Transportation Holdings Inc has a 1 year low of $29.00 and a 1 year high of $51.94. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results on Wednesday, October 24th. The transportation company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Knight-Swift Transportation had a net margin of 13.47% and a return on equity of 7.26%. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the previous year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 158.2% compared to the same quarter last year. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc will post 2.35 EPS for the current fiscal year.

KNX has been the topic of a number of research reports. Loop Capital initiated coverage on shares of Knight-Swift Transportation in a report on Tuesday, October 2nd. They issued a “buy” rating and a $45.00 price target on the stock. ValuEngine raised shares of Knight-Swift Transportation from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, July 17th. Buckingham Research lowered their price target on shares of Knight-Swift Transportation from $62.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, July 26th. Finally, Goldman Sachs Group raised shares of Knight-Swift Transportation from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Thursday. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $48.24.

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About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics 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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Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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