Insider Selling: Knight Transportation, Inc. (KNX) General Counsel Sells 3,000 Shares of Stock
Knight Transportation, Inc. (NYSE:KNX) General Counsel Todd F. Carlson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $37.86, for a total value of $113,580.00. Following the sale, the general counsel now directly owns 23,638 shares of the company’s stock, valued at $894,934.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Knight Transportation, Inc. (KNX) traded down 1.84% during midday trading on Wednesday, hitting $37.35. The company had a trading volume of 1,178,767 shares. Knight Transportation, Inc. has a 12-month low of $26.85 and a 12-month high of $38.80. The company’s 50 day moving average is $36.39 and its 200 day moving average is $34.01. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 38.51 and a beta of 0.86.
Knight Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. The firm had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Knight Transportation, Inc. will post $0.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.06 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.24 annualized dividend and a yield of 0.64%. Knight Transportation’s payout ratio is 25.00%.
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A number of large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Knight Transportation by 9.5% in the first quarter. Geode Capital Management LLC now owns 508,907 shares of the transportation company’s stock valued at $15,953,000 after buying an additional 44,148 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Knight Transportation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 62,148 shares of the transportation company’s stock valued at $1,948,000 after buying an additional 9,379 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Knight Transportation by 5.1% in the first quarter. Vanguard Group Inc. now owns 5,689,091 shares of the transportation company’s stock valued at $178,353,000 after buying an additional 275,392 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Knight Transportation by 3.4% in the first quarter. Wellington Management Group LLP now owns 9,403,622 shares of the transportation company’s stock valued at $294,802,000 after buying an additional 309,790 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in shares of Knight Transportation by 1.6% in the first quarter. Granite Investment Partners LLC now owns 23,659 shares of the transportation company’s stock valued at $742,000 after buying an additional 369 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on KNX shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $39.00 price objective (down from $40.00) on shares of Knight Transportation in a research note on Friday, April 28th. UBS AG raised Knight Transportation from a “neutral” rating to a “buy” rating and increased their target price for the stock from $35.00 to $43.00 in a research note on Monday, April 24th. BidaskClub raised Knight Transportation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Bank of America Corporation reissued 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. Finally, Zacks Investment Research downgraded Knight Transportation from a “buy” rating to a “hold” rating in a research note on Saturday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.13.
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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