Knight Transportation, Inc. (NYSE:KNX) – Equities researchers at Seaport Global Securities reduced their Q3 2017 earnings per share estimates for shares of Knight Transportation in a note issued to investors on Thursday. Seaport Global Securities analyst R. Wood now expects that the transportation company will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.26.

Knight Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $273.20 million for the quarter, compared to the consensus estimate of $283.88 million. Knight Transportation had a return on equity of 11.16% and a net margin of 7.61%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS.

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A number of other equities research analysts have also recently commented on the stock. BidaskClub cut shares of Knight Transportation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 12th. Zacks Investment Research cut shares of Knight Transportation from a “buy” rating to a “hold” rating and set a $40.00 target price for the company. in a report on Wednesday, July 12th. Bank of America Corporation reaffirmed a “buy” rating and issued a $43.00 target price (up from $41.00) on shares of Knight Transportation in a report on Monday, July 10th. Stephens raised shares of Knight Transportation from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $36.00 to $42.00 in a report on Monday, June 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $39.00 target price (down from $40.00) on shares of Knight Transportation in a report on Friday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $37.06.

Shares of Knight Transportation (KNX) traded down 0.496% during midday trading on Friday, reaching $35.075. The company’s stock had a trading volume of 237,582 shares. Knight Transportation has a 52 week low of $26.85 and a 52 week high of $38.80. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 33.090 and a beta of 0.87. The company has a 50 day moving average of $36.16 and a 200-day moving average of $33.71.

Hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE raised its position in shares of Knight Transportation by 0.3% in the second quarter. US Bancorp DE now owns 29,263 shares of the transportation company’s stock valued at $1,084,000 after buying an additional 92 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Knight Transportation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the transportation company’s stock valued at $476,000 after buying an additional 150 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Knight Transportation by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 31,370 shares of the transportation company’s stock valued at $1,109,000 after buying an additional 150 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Knight Transportation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 7,360 shares of the transportation company’s stock valued at $230,000 after buying an additional 170 shares during the last quarter. Finally, Flinton Capital Management LLC raised its position in shares of Knight Transportation by 0.3% in the first quarter. Flinton Capital Management LLC now owns 128,080 shares of the transportation company’s stock valued at $4,015,000 after buying an additional 368 shares during the last quarter. Institutional investors own 88.41% of the company’s stock.

In other Knight Transportation news, Vice Chairman Gary J. Knight sold 12,500 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $33.03, for a total transaction of $412,875.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP James E. Jr. Updike sold 2,800 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $35.75, for a total transaction of $100,100.00. Following the transaction, the vice president now owns 16,096 shares in the company, valued at $575,432. The disclosure for this sale can be found here. Insiders have sold 31,269 shares of company stock valued at $1,022,977 over the last three months. 9.90% of the stock is currently owned by corporate insiders.

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.

Earnings History and Estimates for Knight Transportation (NYSE:KNX)

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