Knight Transportation Inc. (KNX) Downgraded by Zacks Investment Research
Knight Transportation Inc. (NYSE:KNX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday.
According to Zacks, “KNIGHT TRANSPORTATION INC. is a short to medium-haul, dry van truckload carrier operating in the western region of the United States. Co. transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers and imported and exported commodities. “
Several other analysts also recently commented on KNX. Barclays PLC increased their price objective on Knight Transportation from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, September 12th. Citigroup Inc. increased their price target on Knight Transportation from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, July 11th. BB&T Corp. reaffirmed a “hold” rating on shares of Knight Transportation in a research report on Friday, July 1st. Deutsche Bank AG increased their price target on Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Finally, Avondale Partners downgraded Knight Transportation from a “market perform” rating to an “underperform” rating and decreased their price target for the company from $27.00 to $21.00 in a research report on Thursday, June 23rd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $29.42.
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Shares of Knight Transportation (NYSE:KNX) traded down 0.14% during trading on Tuesday, reaching $28.37. The company’s stock had a trading volume of 722,307 shares. Knight Transportation has a 52-week low of $20.56 and a 52-week high of $30.38. The stock has a market cap of $2.27 billion, a P/E ratio of 21.64 and a beta of 0.83. The stock has a 50-day moving average of $28.61 and a 200-day moving average of $27.30.
Knight Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm earned $276.30 million during the quarter, compared to the consensus estimate of $283.13 million. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.39 earnings per share. Analysts predict that Knight Transportation will post $1.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, August 31st. Knight Transportation’s dividend payout ratio is 18.18%.
In other Knight Transportation news, VP Wayne Yu sold 3,200 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $29.59, for a total transaction of $94,688.00. Following the sale, the vice president now owns 8,279 shares in the company, valued at $244,975.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin P. Knight sold 500,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $28.86, for a total value of $14,430,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in KNX. Mason Street Advisors LLC purchased a new stake in Knight Transportation during the second quarter worth $317,000. Royal Bank of Canada increased its stake in Knight Transportation by 14.2% in the second quarter. Royal Bank of Canada now owns 826,152 shares of the company’s stock worth $21,958,000 after buying an additional 102,892 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Knight Transportation by 6.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 287,642 shares of the company’s stock worth $7,646,000 after buying an additional 18,588 shares during the last quarter. Stifel Financial Corp increased its stake in Knight Transportation by 3.1% in the second quarter. Stifel Financial Corp now owns 109,539 shares of the company’s stock worth $2,911,000 after buying an additional 3,246 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Knight Transportation during the second quarter worth $219,000. Institutional investors and hedge funds own 91.16% of the company’s stock.
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. The Company operates primarily in the United States with minor operations in Canada and Mexico.
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