Knight-Swift Transportation Holdings’ KNX board has approved a new share buyback program, authorizing the company to repurchase shares worth up to $250 million.This new share repurchase plan (2020 Knight-Swift Repurchase Plan) follows the termination of the previous $250 million buyback program announced last May. Under the previous share buyback program, the company purchased 3.7 million shares worth approximately $145 million during the course of the fourth quarter (until the new buyback program was announced on Nov 24). With this, Knight-Swift was left with only $54.1 million worth of shares to be repurchased under the previous buyback program.The company’s measures to reward its shareholders through dividends and buybacks are encouraging. In February, the company’s board approved a 33.3% hike in quarterly cash dividend to 8 cents per share (annually 32 cents). During the first nine months of 2020, the company returned $41.3 million to its shareholders in the form of dividends and $34.6 million through share buybacks. Supporting such shareholder friendly activities is $379 million of free cash flow generated in the first nine months of 2020.KnightSwift Transportation Holdings Inc. Price KnightSwift Transportation Holdings Inc. price | KnightSwift Transportation Holdings Inc. QuoteZacks Rank & Other Key PicksKnight-Swift sports a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks in the Zacks Transportation - Truck industry are ArcBest Corp. ARCB, P.A.M. Transportation Services, Inc. PTSI and Universal Logistics Holdings, Inc. ULH, each carrying the same Zacks Rank as Knight-Swift. You can see the complete list of today’s Zacks #1 Rank stocks here.Shares of ArcBest, P.A.M. Transportation and Universal Logistics have rallied more than 96%, 40% and 46% in the last six months, 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 >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report KnightSwift Transportation Holdings Inc. (KNX): Free Stock Analysis Report ArcBest Corporation (ARCB): Free Stock Analysis Report P.A.M. Transportation Services, Inc. (PTSI): Free Stock Analysis Report Universal Logistics Holdings, Inc. (ULH): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research