Knight Transportation Inc. (NYSE:KNX) has received an average recommendation of “Hold” from the twenty ratings firms that are currently covering the stock. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $27.31.
A number of brokerages recently issued reports on KNX. Deutsche Bank AG boosted their price target on Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a report on Friday, July 29th. Zacks Investment Research upgraded Knight Transportation from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Citigroup Inc. boosted their price target on Knight Transportation from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, September 16th. Macquarie downgraded shares of Knight Transportation from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, July 28th. Finally, Barclays PLC boosted their price objective on shares of Knight Transportation from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Monday, September 12th.
In other Knight Transportation news, Vice Chairman Gary J. Knight sold 99,339 shares of the company’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $28.09, for a total value of $2,790,432.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Wayne Yu sold 3,200 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $29.59, for a total transaction of $94,688.00. Following the completion of the sale, the vice president now directly owns 8,279 shares in the company, valued at $244,975.61. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Profund Advisors LLC raised its stake in Knight Transportation by 0.5% in the second quarter. Profund Advisors LLC now owns 13,992 shares of the company’s stock valued at $372,000 after buying an additional 72 shares during the last quarter. Capstone Asset Management Co. raised its stake in Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock valued at $482,000 after buying an additional 120 shares during the last quarter. Arizona State Retirement System raised its stake in Knight Transportation by 0.6% in the second quarter. Arizona State Retirement System now owns 31,610 shares of the company’s stock valued at $840,000 after buying an additional 200 shares during the last quarter. PineBridge Investments L.P. raised its stake in Knight Transportation by 3.2% in the second quarter. PineBridge Investments L.P. now owns 7,731 shares of the company’s stock valued at $205,000 after buying an additional 241 shares during the last quarter. Finally, Huntington National Bank raised its stake in Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock valued at $180,000 after buying an additional 471 shares during the last quarter. 91.16% of the stock is currently owned by institutional investors.
Shares of Knight Transportation (NYSE:KNX) opened at 28.41 on Monday. The firm’s 50-day moving average price is $28.58 and its 200 day moving average price is $27.35. The stock has a market capitalization of $2.27 billion, a P/E ratio of 21.67 and a beta of 0.83. Knight Transportation has a 52 week low of $20.56 and a 52 week high of $30.38.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm earned $276.30 million during 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 quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 earnings per share. Analysts expect that Knight Transportation will post $1.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend was Wednesday, August 31st. Knight Transportation’s payout ratio is 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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