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Knight-Swift (KNX) Acquires Majority Ownership in Eleos
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Knight-Swift Transportation Holdings Inc. (KNX - Free Report) announced that the acquisition of majority stake in a software company, Eleos. This Greenville-based entity created a mobile driver workflow platform for trucking fleets and truck operators. The platform integrates with a wide range of telematics, fleet management and dispatch systems.
The financial terms of the deal were undisclosed. Per Knight-Swift CEO, Dave Jackson, “The Eleos team and their software platform have been invaluable in creating a driver digital experience that enables safety, productivity, and low driver turnover”.
This majority stake ownership in Eleos is expected to boost Knight-Swift’s data privacy with respect to each customer. Moreover, the company will rely on Eleos to arrange communication with their driving associates in a way that increases profits and driver satisfaction. This is likely to drive Knight-Swift’s’s top-line performance in the near future.
The Eleos deal apart, Knift-Swift was also in the news recently when it announced its fourth-quarter results. Notably, the trucking company’s earnings (excluding 10 cents from non-recurring items) of 94 cents per share surpassed the Zacks Consensus Estimate of 91 cents. The bottom line surged 70.9% year over year owing to lower costs. Moreover, adjusted operating ratio (operating expenses as a percentage of revenues) improved in all the segments (Trucking, Logistics and Intermodal).
Zacks Rank & Stocks to Consider
Knight-Swift currently carries a Zacks Rank #3 (Hold).
Long-term expected earnings per share (three to five years) growth rate for FedEx, Kansas City and Herc Holdings is pegged at 12%, 15% and 12.6%, respectively.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Knight-Swift (KNX) Acquires Majority Ownership in Eleos
Knight-Swift Transportation Holdings Inc. (KNX - Free Report) announced that the acquisition of majority stake in a software company, Eleos. This Greenville-based entity created a mobile driver workflow platform for trucking fleets and truck operators. The platform integrates with a wide range of telematics, fleet management and dispatch systems.
The financial terms of the deal were undisclosed. Per Knight-Swift CEO, Dave Jackson, “The Eleos team and their software platform have been invaluable in creating a driver digital experience that enables safety, productivity, and low driver turnover”.
This majority stake ownership in Eleos is expected to boost Knight-Swift’s data privacy with respect to each customer. Moreover, the company will rely on Eleos to arrange communication with their driving associates in a way that increases profits and driver satisfaction. This is likely to drive Knight-Swift’s’s top-line performance in the near future.
The Eleos deal apart, Knift-Swift was also in the news recently when it announced its fourth-quarter results. Notably, the trucking company’s earnings (excluding 10 cents from non-recurring items) of 94 cents per share surpassed the Zacks Consensus Estimate of 91 cents. The bottom line surged 70.9% year over year owing to lower costs. Moreover, adjusted operating ratio (operating expenses as a percentage of revenues) improved in all the segments (Trucking, Logistics and Intermodal).
Zacks Rank & Stocks to Consider
Knight-Swift currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Transportation sector are FedEx Corporation (FDX - Free Report) , Kansas City Southern and Herc Holdings Inc. (HRI - Free Report) . Kansas City and FedEx carry a Zacks Rank #2 (Buy), while Herc Holdings sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Long-term expected earnings per share (three to five years) growth rate for FedEx, Kansas City and Herc Holdings is pegged at 12%, 15% and 12.6%, respectively.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>