Knight Transportation Inc. (NYSE:KNX) Given Consensus Rating of “Hold” by Analysts
Knight Transportation Inc. (NYSE:KNX) has received a consensus rating of “Hold” from the twenty analysts that are covering the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.31.
KNX has been the topic of several research reports. Credit Suisse Group AG lowered Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $28.00 to $26.00 in a report on Thursday, July 7th. Zacks Investment Research raised Knight Transportation from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Macquarie lowered Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $29.00 to $27.00 in a report on Thursday, July 28th. Bank of America Corp. reaffirmed a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Knight Transportation in a research note on Tuesday, June 21st. Finally, Avondale Partners lowered Knight Transportation from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $27.00 to $21.00 in a research note on Thursday, June 23rd.
In other Knight Transportation news, Vice Chairman Gary J. Knight sold 99,339 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $28.09, for a total transaction of $2,790,432.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Wayne Yu sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $29.59, for a total value of $94,688.00. Following the sale, the vice president now owns 8,279 shares of the company’s stock, valued at approximately $244,975.61. The disclosure for this sale can be found here. 11.60% of the stock is owned by insiders.
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A number of large investors have recently modified their holdings of KNX. Bank of Montreal Can acquired a new stake in shares of Knight Transportation during the second quarter worth $107,000. BlackRock Inc. raised its stake in shares of Knight Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the company’s stock worth $109,000 after buying an additional 2,339 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Knight Transportation by 3,916.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,418 shares of the company’s stock worth $118,000 after buying an additional 4,308 shares during the period. Creative Planning raised its stake in shares of Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock worth $146,000 after buying an additional 2,000 shares during the period. Finally, Huntington National Bank raised its stake in shares of Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock worth $180,000 after buying an additional 471 shares during the period. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Shares of Knight Transportation (NYSE:KNX) traded up 1.06% during mid-day trading on Monday, reaching $28.67. 280,042 shares of the company traded hands. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 21.87 and a beta of 0.83. Knight Transportation has a 52-week low of $20.56 and a 52-week high of $30.38. The company’s 50 day moving average is $28.61 and its 200 day moving average is $27.30.
Knight Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company had revenue of $276.30 million for the quarter, compared to analyst estimates of $283.13 million. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. Knight Transportation’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, equities analysts forecast that Knight Transportation will post $1.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were paid a $0.06 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.85%. Knight Transportation’s dividend payout ratio (DPR) is currently 18.18%.
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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