Back to top

Image: Bigstock

Knight-Swift (KNX) Buys Kansas City-Based UTXL for $22.5M

Read MoreHide Full Article

Knight-Swift Transportation Holdings, Inc. (KNX - Free Report) has acquired Kansas City, MO-based third-party logistics company UTXL, Inc for approximately $22.5 million.

UTXL, which specializes in over-the-road full-truckload and multi-stop loads, generated operating revenues of more than $100 million last year. This, in turn, contributed to an operating ratio (operating expenses as a percentage of revenues) in the low-90s.

The acquisition widens Knight-Swift’s customer base across the United States, Canada and Mexico, where UTXL served thousands of shippers.


The purchase price is subject to customary working capital adjustment and additional potential deferred payments over the next two years.

Regarding the transaction, Knight-Swift’s CEO, Dave Jackson, stated, "The UTXL team’s excellence in providing customer-specific solutions will be an invaluable complement to our Knight-Swift transportation service offerings. UTXL provides outstanding and unique customer service with some of the truckload industry’s most demanding service requirements.”

Knight-Swift’s successive acquisitions to drive growth are noteworthy. Previously, in February, the company acquired a majority stake in Greenville, SC-based software provider Eleos.

Zacks Rank & Key Picks

Knight-Swift carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader Transportation sector are Covenant Logistics Group (CVLG - Free Report) , C.H. Robinson Worldwide (CHRW - Free Report) and United Parcel Service (UPS - Free Report) . While Covenant Logistics and C.H. Robinson sport a Zacks Rank #1 (Strong Buy), UPS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Covenant Logistics, C.H. Robinson and UPS have rallied more than 74%, 15% and 100% in a year’s time, respectively.

Zacks Names “Single Best Pick to Double”

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

Published in