Knight Transportation, Inc. (NYSE:KNX) Issues Earnings Results
Knight Transportation, Inc. (NYSE:KNX) issued its quarterly earnings data on Wednesday. The transportation company reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25, Bloomberg Earnings reports. Knight Transportation had a return on equity of 11.16% and a net margin of 7.61%. The business had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year.
Shares of Knight Transportation (NYSE:KNX) traded up 0.54% during mid-day trading on Wednesday, reaching $37.25. The company’s stock had a trading volume of 2,350,643 shares. The stock has a 50 day moving average of $35.99 and a 200-day moving average of $33.64. The stock has a market cap of $3.00 billion, a P/E ratio of 35.14 and a beta of 0.87. Knight Transportation has a one year low of $26.85 and a one year high of $38.80.
In other Knight Transportation news, insider Kevin P. Knight sold 17,575 shares of the business’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $34.34, for a total value of $603,525.50. Following the completion of the transaction, the insider now owns 2,761,738 shares in the company, valued at $94,838,082.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP James E. Jr. Updike sold 2,800 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $35.75, for a total transaction of $100,100.00. Following the completion of the transaction, the vice president now owns 16,096 shares of the company’s stock, valued at approximately $575,432. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,844 shares of company stock valued at $1,626,502. Insiders own 9.90% of the company’s stock.
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A number of research analysts have recently commented on KNX shares. UBS AG raised Knight Transportation from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.00 to $43.00 in a research note on Monday, April 24th. BidaskClub cut Knight Transportation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Zacks Investment Research raised Knight Transportation from a “sell” rating to a “hold” rating and set a $41.00 target price on the stock in a research note on Wednesday, July 5th. Bank of America Corporation reaffirmed a “buy” rating and set a $43.00 target price (up previously from $41.00) on shares of Knight Transportation in a research note on Monday, July 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $27.00 target price on shares of Knight Transportation in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $37.06.
Knight Transportation Company Profile
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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