Knight-Swift Transportation (NYSE:KNX) Announces Earnings Results, Beats Expectations By $0.10 EPS

Knight-Swift Transportation (NYSE:KNX) issued its earnings results on Tuesday. The transportation company reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.10, MarketWatch Earnings reports. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Knight-Swift Transportation had a return on equity of 9.02% and a net margin of 9.94%. Knight-Swift Transportation’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share.

Shares of NYSE:KNX traded up $0.85 during midday trading on Thursday, reaching $48.11. 83,277 shares of the company’s stock traded hands, compared to its average volume of 1,780,421. Knight-Swift Transportation has a 1 year low of $37.07 and a 1 year high of $51.17. The stock has a market cap of $7.96 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.87 and a beta of 1.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The company has a fifty day simple moving average of $47.43.

A number of equities research analysts recently commented on KNX shares. KeyCorp upped their target price on Knight-Swift Transportation from $58.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, July 7th. Susquehanna Bancshares lowered Knight-Swift Transportation to a “neutral” rating and set a $53.00 target price on the stock. in a research report on Monday, April 12th. Credit Suisse Group upped their target price on Knight-Swift Transportation from $50.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on Knight-Swift Transportation from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Knight-Swift Transportation from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $54.73.

In other news, EVP James E. Jr. Updike sold 2,250 shares of the stock in a transaction that occurred on Wednesday, May 5th. The stock was sold at an average price of $48.85, for a total transaction of $109,912.50. Following the transaction, the executive vice president now owns 15,270 shares in the company, valued at approximately $745,939.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 27.50% of the company’s stock.

About Knight-Swift Transportation

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through three segments: Trucking, Logistics, and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

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Earnings History for Knight-Swift Transportation (NYSE:KNX)

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