Knight Transportation (KNX)

• Market cap: $8.88B
• 1 day: -0.81%
• 5 days: -2.35%
• 1 month: 3.80%
• 3 months: 3.88%
• 6 months: 9.68%
• Year to date: 4.00%
• 1 year: -3.87%
• 5 years: 48.58%
• 10 years: 38.17%
• 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)

65% more first-time investments, than exits

New positions opened: 71 | Existing positions closed: 43

42% more call options, than puts

Call options by funds: $39.7M | 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: $7.88B [Q2] → $8.19B (+$306M) [Q3]

3.88% less ownership

Funds ownership: 97.76% [Q2] → 93.88% (-3.88%) [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 12% downside
• Avg. target: $59 8% upside
• High target: $70 28% upside

10 analyst ratings

• positive: 6 60%
• neutral: 3 30%
• negative: 1 10%

B of A Securities Ken Hoexter 45% 1-year accuracy 24 / 53 met price target	15% upside $63	Buy Maintained	16 Jan 2025
Raymond James Patrick Tyler Brown 66% 1-year accuracy 25 / 38 met price target	13% upside $62	Strong Buy Maintained	10 Jan 2025
Susquehanna Bascome Majors 59% 1-year accuracy 26 / 44 met price target	22% upside $67	Positive Upgraded	3 Jan 2025
Goldman Sachs Jordan Alliger 40% 1-year accuracy 6 / 15 met price target	7% downside $51	Neutral Maintained	12 Dec 2024
Barclays Brandon Oglenski 50% 1-year accuracy 34 / 68 met price target	24% upside $68	Overweight Maintained	13 Nov 2024