Knight Transportation, Inc. (NYSE:KNX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, August 9th.
Several other brokerages also recently commented on KNX. Credit Suisse Group restated an “outperform” rating and set a $35.00 price objective (up from $32.00) on shares of Knight Transportation in a research report on Friday, April 14th. Zacks Investment Research upgraded shares of Knight Transportation from a “sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a research report on Wednesday, July 5th. Robert W. Baird upgraded shares of Knight Transportation from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $35.00 to $36.00 in a research report on Monday, April 17th. Vertical Research began coverage on shares of Knight Transportation in a research report on Thursday, April 13th. They set a “buy” rating and a $48.00 price objective on the stock. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 target price (up from $41.00) on shares of Knight Transportation in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $38.13.
Knight Transportation (NYSE:KNX) traded up 0.40% on Wednesday, hitting $37.20. 794,903 shares of the stock were exchanged. The company has a 50-day moving average of $36.37 and a 200 day moving average of $34.06. Knight Transportation has a 12 month low of $26.85 and a 12 month high of $38.80. The firm has a market cap of $3.00 billion, a P/E ratio of 38.35 and a beta of 0.86.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The firm had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. Knight Transportation had a net margin of 7.03% and a return on equity of 10.39%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.31 EPS. Equities research analysts expect that Knight Transportation will post $0.99 earnings per share for the current fiscal year.
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In other Knight Transportation news, COO Kevin Quast sold 3,469 shares of Knight Transportation stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $31.71, for a total value of $110,001.99. Following the completion of the transaction, the chief operating officer now directly owns 63,497 shares of the company’s stock, valued at approximately $2,013,489.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Todd F. Carlson sold 3,000 shares of Knight Transportation stock in a transaction on Monday, August 14th. The stock was sold at an average price of $37.86, for a total transaction of $113,580.00. Following the completion of the transaction, the general counsel now directly owns 23,638 shares of the company’s stock, valued at $894,934.68. The disclosure for this sale can be found here. Insiders sold a total of 11,144 shares of company stock valued at $392,157 over the last three months. Corporate insiders own 9.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Guggenheim Capital LLC boosted its position in Knight Transportation by 199.5% in the fourth quarter. Guggenheim Capital LLC now owns 40,928 shares of the transportation company’s stock worth $1,353,000 after buying an additional 27,264 shares in the last quarter. Norges Bank purchased a new position in Knight Transportation during the fourth quarter worth approximately $16,172,000. Teachers Advisors LLC boosted its position in Knight Transportation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 110,134 shares of the transportation company’s stock worth $3,640,000 after buying an additional 2,118 shares in the last quarter. Bank of Montreal Can boosted its position in Knight Transportation by 91.5% in the first quarter. Bank of Montreal Can now owns 8,858 shares of the transportation company’s stock worth $277,000 after buying an additional 4,233 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Knight Transportation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the transportation company’s stock worth $853,000 after buying an additional 500 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.
About Knight Transportation
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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