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KnightSwift Transportation (KNX - Free Report) is a Zacks Rank #5 (Strong Sell) but it could be worth a deeper look even as estimates have moved lower. This article will look at why this stock is a Zacks Rank #5 (Strong Sell) in this Bear of the Day article.
Description
Knight-Swift Transportation Holdings Inc. provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), 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. The company also provides logistics and intermodal services, such as brokerage, intermodal, and certain logistics; freight management; and non-trucking services. The company operates a total of 18,019 tractors, which comprises 16,166 company tractors and 1,853 independent contractor tractors, as well as 67,606 trailers; 2,735 tractors and 7,413 trailers; and 597 tractors and 10,847 intermodal containers. Knight-Swift Transportation Holdings Inc. was incorporated in 1989 and is headquartered in Phoenix, Arizona.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
In the case of KNX, I three beats of the Zacks Consensus Estimate and one miss. This alone does not make the stock a Zacks Rank #1 (Strong Buy) and it doesn’t make it a Zacks Rank #5 (Strong Sell) either.
The Zacks Rank does care about the earnings history, but it is much more heavily influenced by the movement of earnings estimates.
Earnings Estimates
The Zacks Rank tells us which stocks are seeing earnings estimates move higher or in this case lower. For KNX see annual estimates moving lower.
The current fiscal year consensus number moved from $5.39 to $5.26 over the last 60 days.
The next year has moved from $4.72 to $4.46.
Negative movement in earnings estimates like that is why this stock is a Zacks Rank #5 (Strong Sell).
It should be noted that a majority of stocks in the Zacks universe are seeing negative earnings estimate revisions. That means that the stocks that are seeing small but negative earnings estimate revisions are falling to a Zacks Rank #5 (Strong Sell).
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Bear Of The Day: KnightSwift Transportation (KNX)
KnightSwift Transportation (KNX - Free Report) is a Zacks Rank #5 (Strong Sell) but it could be worth a deeper look even as estimates have moved lower. This article will look at why this stock is a Zacks Rank #5 (Strong Sell) in this Bear of the Day article.
Description
Knight-Swift Transportation Holdings Inc. provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), 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. The company also provides logistics and intermodal services, such as brokerage, intermodal, and certain logistics; freight management; and non-trucking services. The company operates a total of 18,019 tractors, which comprises 16,166 company tractors and 1,853 independent contractor tractors, as well as 67,606 trailers; 2,735 tractors and 7,413 trailers; and 597 tractors and 10,847 intermodal containers. Knight-Swift Transportation Holdings Inc. was incorporated in 1989 and is headquartered in Phoenix, Arizona.
Earnings History
When I look at a stock, the first thing I do is look to see if the company is beating the number. This tells me right away where the market’s expectations have been for the company and how management has communicated to the market. A stock that consistently beats has management communicating expectations to Wall Street that can be achieved. That is what you want to see.
In the case of KNX, I three beats of the Zacks Consensus Estimate and one miss. This alone does not make the stock a Zacks Rank #1 (Strong Buy) and it doesn’t make it a Zacks Rank #5 (Strong Sell) either.
The Zacks Rank does care about the earnings history, but it is much more heavily influenced by the movement of earnings estimates.
Earnings Estimates
The Zacks Rank tells us which stocks are seeing earnings estimates move higher or in this case lower. For KNX see annual estimates moving lower.
The current fiscal year consensus number moved from $5.39 to $5.26 over the last 60 days.
The next year has moved from $4.72 to $4.46.
Negative movement in earnings estimates like that is why this stock is a Zacks Rank #5 (Strong Sell).
It should be noted that a majority of stocks in the Zacks universe are seeing negative earnings estimate revisions. That means that the stocks that are seeing small but negative earnings estimate revisions are falling to a Zacks Rank #5 (Strong Sell).