Knight Transportation (KNX)

• Market cap: $8.41B
• 1 day: -0.63%
• 5 days: -6.02%
• 1 month: -7.25%
• 3 months: -0.50%
• 6 months: 9.67%
• Year to date: -9.51%
• 1 year: -9.82%
• 5 years: 45.11%
• 10 years: 29.16%
• Sector: Industrials
• Industry: Trucking, Except Local

About: Knight-Swift is the largest truckload carrier in the us, with a diversified transportation offering. Pro forma for the U.S. Xpress deal, about 82% of revenue derives from Knight's asset-based trucking business, with full truckload (for-hire dry van, refrigerated, and dedicated contract) making up 69% and less than truckload at 13%. Truck brokerage and other asset-light logistics services make up 9% of revenue, with intermodal near 6%. Knight's intermodal operations use the Class I railroads for the underlying movement of its shipping containers and include drayage (regional trucking services to and from inland intermodal ramps/terminals). The remainder of revenue reflects services offered to shippers and third-party truckers, including equipment maintenance and leasing.

Employees: 34,800

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

48% more first-time investments, than exits

New positions opened: 71 | Existing positions closed: 48

30% more call options, than puts

Call options by funds: $36.4M | Put options by funds: $27.9M

5% more funds holding

Funds holding: 430 [Q2] → 453 (+23) [Q3]

4% more capital invested

Capital invested by funds: $7.79B [Q2] → $8.12B (+$339M) [Q3]

3.42% less ownership

Funds ownership: 96.53% [Q2] → 93.11% (-3.42%) [Q3]

13% less repeat investments, than reductions

Existing positions increased: 151 | Existing positions reduced: 173

17% less funds holding in top 10

Funds holding in top 10: 6 [Q2] → 5 (-1) [Q3]

Research analyst outlook

10 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $48 8% downside
• Avg. target: $57 9% upside
• High target: $70 35% upside

10 analyst ratings

• positive: 5 50%
• neutral: 4 40%
• negative: 1 10%

B of A Securities Ken Hoexter 40% 1-year accuracy 19 / 48 met price target	17% upside $61	Buy Maintained	17 Dec 2024
Goldman Sachs Jordan Alliger 47% 1-year accuracy 7 / 15 met price target	2% downside $51	Neutral Maintained	12 Dec 2024
Barclays Brandon Oglenski 41% 1-year accuracy 26 / 64 met price target	31% upside $68	Overweight Maintained	13 Nov 2024
Citigroup Ariel Rosa 31% 1-year accuracy 8 / 26 met price target	8% upside $56	Sell Downgraded	12 Nov 2024
Stifel J. Bruce Chan 43% 1-year accuracy 15 / 35 met price target	8% downside $48	Hold Maintained	25 Oct 2024