Knight-Swift Transportation Holdings Inc. (NYSE: KNX) stock jumped 0.94% on Thursday to $53.57 against a previous-day closing price of $53.07. With 2.42 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.83 million shares. During the session, the Trucking company that operates in wider Industrials sector, reached to the highest price of $53.92 whereas the lowest price it dropped to was $52.27. The 52-week range on KNX shows that it touched its highest point at $64.35 and its lowest point at $45.63 during that stretch. It currently has a 1-year price target of $62.05. With its current market cap of 8.67 billion, KNX has annualized dividend of $0.56 while the current yield stands at 1.05%. Beta for the stock currently stands at 1.19.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of KNX was up-trending over the past week, with a rise of 2.15%, but this was down by -8.46% over a month. Three-month performance dropped to -4.34% while six-month performance rose 0.32%. The stock gained 7.70% in the past year, while it has gained 2.21% so far this year. A look at the trailing 12-month EPS for KNX yields 3.16 with Next year EPS estimates of 3.25. For the next quarter, that number is 0.42. This implies an EPS growth rate of 6.20% for this year and 49.40% for next year. EPS is expected to grow by 6.71% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 34.50%.
Float and Shares Shorts:
At present, 161.12 million KNX shares are outstanding with a float of 156.13 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.07 million, which was 2.53% higher than short shares on Jul 30, 2023. In addition to Mr. Kevin P. Knight as the firm’s Exec. Chairman, Mr. David A. Jackson serves as its Pres, CEO & Director.
Institutional Ownership:
Through their ownership of 92.50% of KNX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 9.21% of KNX, in contrast to 53.53% held by mutual funds. Shares owned by individuals account for 38.53%. As the largest shareholder in KNX with 9.11% of the stake, The Vanguard Group, Inc. holds 14,671,483 shares worth 14,671,483. A second-largest stockholder of KNX, BlackRock Fund Advisors, holds 13,685,686 shares, controlling over 8.50% of the firm’s shares. Wellington Management Co. LLP is the third largest shareholder in KNX, holding 11,784,375 shares or 7.32% stake. With a 3.21% stake in KNX, the iShares Core S&P Mid Cap ETF is the largest stakeholder. A total of 5,169,306 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.96% of KNX stock, is the second-largest Mutual Fund holder. It holds 4,763,457 shares valued at 289.38 million. Vanguard Windsor Funds – Vanguard holds 2.55% of the stake in KNX, owning 4,109,236 shares worth 249.64 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, KNX reported revenue of $1.96B and operating income of $325.78M. The EBITDA in the recently reported quarter was $300.88M and diluted EPS was $1.35.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for KNX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With KNX analysts setting a high price target of $72.00 and a low target of $51.00, the average target price over the next 12 months is $61.95. Based on these targets, KNX could surge 34.4% to reach the target high and fall by -4.8% to reach the target low. Reaching the average price target will result in a growth of 15.64% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded KNX stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 603 shares were bought while 102,177 shares were sold. The number of buy transactions has increased to 114 while that of sell transactions has risen to 118 over the past year. The total number of shares bought during that period was 727,795 while 541,978 shares were sold.
