Knight Transportation Inc. (NYSE:KNX) had its target price hoisted by Citigroup Inc. from $27.00 to $32.00 in a research note released on Friday morning. Citigroup Inc. currently has a neutral rating on the stock.
Several other research analysts have also recently weighed in on KNX. Barclays PLC boosted their price target on Knight Transportation from $26.00 to $27.00 and gave the stock an equal weight rating in a research note on Monday, September 12th. BB&T Corp. reiterated a hold rating on shares of Knight Transportation in a research report on Friday, July 1st. Deutsche Bank AG upped their price objective on Knight Transportation from $27.00 to $29.00 and gave the company a hold rating in a research report on Friday, July 29th. Avondale Partners cut Knight Transportation from a market perform rating to an underperform rating and reduced their price objective for the company from $27.00 to $21.00 in a research report on Thursday, June 23rd. Finally, Macquarie cut Knight Transportation from an outperform rating to a neutral rating and reduced their price objective for the company from $29.00 to $27.00 in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $29.42.
Shares of Knight Transportation (NYSE:KNX) opened at 28.75 on Friday. The firm has a 50 day moving average price of $28.61 and a 200 day moving average price of $27.08. The stock has a market cap of $2.30 billion, a PE ratio of 21.93 and a beta of 0.92. Knight Transportation has a 12-month low of $20.56 and a 12-month high of $30.38.
Knight Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The firm earned $276.30 million during the quarter, compared to analysts’ expectations of $283.13 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. The company’s revenue was down 8.4% on a year-over-year basis. On average, equities analysts expect that Knight Transportation will post $1.18 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Wednesday, August 31st. Knight Transportation’s payout ratio is presently 18.18%.
In related news, insider Kevin P. Knight sold 500,000 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $29.44, for a total transaction of $14,720,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Wayne Yu sold 3,200 shares of the 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 transaction, the vice president now directly owns 8,279 shares of the company’s stock, valued at $244,975.61. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company’s stock.
Large investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Knight Transportation by 31.5% in the first quarter. Wellington Management Group LLP now owns 5,602,282 shares of the company’s stock worth $146,500,000 after buying an additional 1,341,814 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Knight Transportation by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 4,917,991 shares of the company’s stock worth $130,719,000 after buying an additional 361,291 shares during the period. Vanguard Group Inc. increased its stake in shares of Knight Transportation by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,788,436 shares of the company’s stock worth $127,277,000 after buying an additional 83,623 shares during the period. BlackRock Fund Advisors increased its stake in shares of Knight Transportation by 5.0% in the second quarter. BlackRock Fund Advisors now owns 4,053,834 shares of the company’s stock worth $107,751,000 after buying an additional 192,329 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Knight Transportation by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,134,985 shares of the company’s stock worth $83,326,000 after buying an additional 281,135 shares during the period. Institutional investors and hedge funds own 91.16% of the company’s stock.
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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