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Knight-Swift Transportation (KNX) Peps Up Drivers Via Pay Hike
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Mirroring the improved economic conditions in the United States with the gradual reopening of the economy, Knight-Swift Transportation Holdings (KNX - Free Report) boosted its driver wages from the first week of April. Moreover, contract rates for independent contractors witnessed a raise.
Notably, Knight-Swift has increased the pay and incentives of its drivers more than once over the past six months as conditions limp back to normalcy in the United States. Under the latest increment, over-the-road drivers at Knight and Swift received the benefit of a 2 cent per mile pay raise. Under the new structure, experienced drivers can now begin earning above 50 cents per mile and in some regions of the country, a few jobs are made even more lucrative, starting beyond 60 cents per mile.
The lucrativeness of the package can be gauged from the fact that drivers who can train others to become successful professional drivers at the company can have income in excess of $100,000, annually. Moreover, pays of new recruits post training increased at least 40%. Also, students at Knight-Swift are being rewarded with incentives per week under the new program.
Additionally, the pay hike takes care of the over-the-road independent contractors. Their pays are also increased in the 3-5 cent band per mile from the first week of April.
Notably, driver shortage is a key headwind confronting the trucking industry, of which Knight-Swift is integral. To combat this challenge, Knight-Swift has been constantly looking to upgrade driver pays. Also, the company, currently carrying a Zacks Rank #3 (Hold), has been spending significantly on driver amenities and enhancing its fleet for a while now.
Shares of Old Dominion, Landstar and Saia have appreciated more than 75%, 67% and 186%, respectively, in a year’s time.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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Knight-Swift Transportation (KNX) Peps Up Drivers Via Pay Hike
Mirroring the improved economic conditions in the United States with the gradual reopening of the economy, Knight-Swift Transportation Holdings (KNX - Free Report) boosted its driver wages from the first week of April. Moreover, contract rates for independent contractors witnessed a raise.
Notably, Knight-Swift has increased the pay and incentives of its drivers more than once over the past six months as conditions limp back to normalcy in the United States. Under the latest increment, over-the-road drivers at Knight and Swift received the benefit of a 2 cent per mile pay raise. Under the new structure, experienced drivers can now begin earning above 50 cents per mile and in some regions of the country, a few jobs are made even more lucrative, starting beyond 60 cents per mile.
The lucrativeness of the package can be gauged from the fact that drivers who can train others to become successful professional drivers at the company can have income in excess of $100,000, annually. Moreover, pays of new recruits post training increased at least 40%. Also, students at Knight-Swift are being rewarded with incentives per week under the new program.
Additionally, the pay hike takes care of the over-the-road independent contractors. Their pays are also increased in the 3-5 cent band per mile from the first week of April.
Notably, driver shortage is a key headwind confronting the trucking industry, of which Knight-Swift is integral. To combat this challenge, Knight-Swift has been constantly looking to upgrade driver pays. Also, the company, currently carrying a Zacks Rank #3 (Hold), has been spending significantly on driver amenities and enhancing its fleet for a while now.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Picks
Better-ranked stocks in the Zacks Transportation-Truck industry include Old Dominion Freight Line (ODFL - Free Report) , Landstar System (LSTR - Free Report) and Saia (SAIA - Free Report) , each currently carrying a Zacks Rank #2 (Buy).
Shares of Old Dominion, Landstar and Saia have appreciated more than 75%, 67% and 186%, respectively, in a year’s time.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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