RS Investment Management Co. LLC increased its stake in Knight Transportation Inc. (NYSE:KNX) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 716,745 shares of the company’s stock after buying an additional 2,175 shares during the period. RS Investment Management Co. LLC’s holdings in Knight Transportation were worth $19,051,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capstone Asset Management Co. raised its position 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 in the last quarter. Arizona State Retirement System raised its position in Knight Transportation by 2.6% in the first quarter. Arizona State Retirement System now owns 31,410 shares of the company’s stock valued at $821,000 after buying an additional 800 shares in the last quarter. Ramsey Quantitative Systems raised its position in Knight Transportation by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 24,808 shares of the company’s stock valued at $649,000 after buying an additional 1,286 shares in the last quarter. Creative Planning raised its position in Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock valued at $146,000 after buying an additional 2,000 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Knight Transportation by 0.3% in the first quarter. Royal Bank of Canada now owns 723,260 shares of the company’s stock valued at $18,914,000 after buying an additional 2,159 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.
Shares of Knight Transportation Inc. (NYSE:KNX) traded down 2.21% during trading on Friday, hitting $27.84. The stock had a trading volume of 1,451,816 shares. The company has a market cap of $2.23 billion, a P/E ratio of 21.24 and a beta of 0.92. Knight Transportation Inc. has a one year low of $20.56 and a one year high of $30.38. The stock’s 50-day moving average price is $28.58 and its 200-day moving average price is $27.10.
Knight Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $276.30 million for 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%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. On average, equities research analysts forecast that Knight Transportation Inc. will post $1.18 EPS for the current fiscal year.
The business also recently disclosed 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 dividend yield of 0.86%. The ex-dividend date is Wednesday, August 31st. Knight Transportation’s payout ratio is currently 18.18%.
Several research analysts have recently commented on the company. Avondale Partners lowered Knight Transportation from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $27.00 to $21.00 in a report on Thursday, June 23rd. BB&T Corp. restated a “hold” rating on shares of Knight Transportation in a report on Friday, July 1st. Citigroup Inc. boosted their price objective on shares of Knight Transportation from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 11th. Bank of America Corp. restated a “neutral” rating and issued a $29.00 price objective (up from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Finally, Macquarie lowered shares of 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 report on Thursday, July 28th. Two 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. Knight Transportation currently has a consensus rating of “Hold” and an average target price of $29.42.
In related news, insider Kevin P. Knight sold 500,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $28.86, for a total transaction of $14,430,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Gary J. Knight sold 99,339 shares of the 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 disclosure for this sale can be found here. Corporate insiders own 11.60% 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.
Want to see what other hedge funds are holding KNX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Knight Transportation Inc. (NYSE:KNX).
Receive News & Ratings for Knight Transportation Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Knight Transportation Inc. and related companies with MarketBeat.com's FREE daily email newsletter.