Knight-Swift Transportation Sees Unusually High Options Volume (NYSE:KNX)

Knight-Swift Transportation Holdings Inc (NYSE:KNX) saw unusually large options trading on Wednesday. Investors bought 2,851 put options on the company. This is an increase of 1,484% compared to the average volume of 180 put options. Shares of NYSE:KNX opened at $41.28 on Friday. The company has a current ratio of […]

Knight-Swift Transportation Holdings Inc (NYSE:KNX) saw unusually large options trading on Wednesday. Investors bought 2,851 put options on the company. This is an increase of 1,484% compared to the average volume of 180 put options.

Shares of NYSE:KNX opened at $41.28 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.05. Knight-Swift Transportation has a 12 month low of $27.54 and a 12 month high of $47.44. The company has a 50-day moving average price of $43.87 and a 200 day moving average price of $40.56. The company has a market cap of $7.03 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 1.23 and a beta of 1.21.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.57 EPS for the quarter, beating the Zacks’ 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 the consensus estimate of $1.08 billion. As a group, equities analysts forecast that Knight-Swift Transportation will post 2.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Thursday, September 3rd. Knight-Swift Transportation’s payout ratio is 14.75%.

In other Knight-Swift Transportation news, CAO Cary M. Flanagan sold 2,500 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $43.11, for a total value of $107,775.00. Following the completion of the sale, the chief accounting officer now owns 2,628 shares in the company, valued at approximately $113,293.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Garnreiter sold 5,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $47.25, for a total value of $236,250.00. Following the completion of the sale, the director now owns 9,318 shares of the company’s stock, valued at approximately $440,275.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 199,922 shares of company stock worth $9,229,179. 27.50% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in KNX. Wellington Management Group LLP lifted its holdings in shares of Knight-Swift Transportation by 967.6% in the 1st quarter. Wellington Management Group LLP now owns 6,548,120 shares of the transportation company’s stock valued at $214,779,000 after acquiring an additional 5,934,789 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Knight-Swift Transportation by 78.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,659,647 shares of the transportation company’s stock worth $87,236,000 after purchasing an additional 1,170,061 shares during the last quarter. Columbus Circle Investors bought a new stake in Knight-Swift Transportation in the second quarter worth about $29,084,000. Man Group plc lifted its stake in Knight-Swift Transportation by 1,628.3% in the second quarter. Man Group plc now owns 556,717 shares of the transportation company’s stock worth $23,221,000 after purchasing an additional 524,506 shares during the last quarter. Finally, Scopus Asset Management L.P. bought a new stake in Knight-Swift Transportation in the first quarter worth about $16,203,000. 84.35% of the stock is owned by hedge funds and other institutional investors.

KNX has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on Knight-Swift Transportation in a research note on Thursday, September 24th. They issued an “overweight” rating and a $51.00 price target for the company. Zacks Investment Research upgraded Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 price target for the company in a research note on Monday, July 27th. Loop Capital increased their price target on Knight-Swift Transportation from $46.00 to $49.00 in a research note on Tuesday, June 23rd. Credit Suisse Group increased their price target on Knight-Swift Transportation from $41.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Finally, KeyCorp raised their price objective on Knight-Swift Transportation from $47.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Knight-Swift Transportation currently has an average rating of “Buy” and a consensus price target of $49.12.

Knight-Swift Transportation Company 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.

Read More: What is diluted earnings per share (Diluted EPS)?

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