According to Zacks, “KNIGHT TRANSPORTATION INC. is a short to medium-haul, dry van truckload carrier operating in the western region of the United States. Co. transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers and imported and exported commodities. “
A number of other research analysts also recently weighed in on KNX. Barclays PLC raised their price target on shares of Knight Transportation from $26.00 to $27.00 and gave the company an equal weight rating in a report on Monday, September 12th. Citigroup Inc. raised their price target 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. BB&T Corp. restated a hold rating on shares of Knight Transportation in a report on Friday, July 1st. Deutsche Bank AG raised their price target on shares of Knight Transportation from $27.00 to $29.00 and gave the company a hold rating in a report on Friday, July 29th. Finally, Avondale Partners downgraded shares of Knight Transportation from a market perform rating to an underperform rating and cut their price target for the company from $27.00 to $21.00 in a report on Thursday, June 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $29.42.
Knight Transportation (NYSE:KNX) opened at 28.41 on Tuesday. The firm has a market cap of $2.27 billion, a PE ratio of 21.67 and a beta of 0.83. The firm’s 50-day moving average price is $28.60 and its 200 day moving average price is $27.29. Knight Transportation has a 52-week low of $20.56 and a 52-week high of $30.38.
Knight Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share 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 the consensus estimate of $283.13 million. Knight Transportation had a net margin of 9.37% and a return on equity of 14.55%. Knight Transportation’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. On average, equities analysts anticipate that Knight Transportation will post $1.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.24 annualized dividend and a dividend yield of 0.84%. Knight Transportation’s dividend payout ratio (DPR) is currently 18.18%.
In other Knight Transportation news, insider Kevin P. Knight sold 500,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $29.44, for a total value of $14,720,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Wayne Yu sold 3,200 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 8,279 shares in the company, valued at $244,975.61. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. RS Investment Management Co. LLC raised its position in Knight Transportation by 0.3% in the second quarter. RS Investment Management Co. LLC now owns 716,745 shares of the company’s stock worth $19,051,000 after buying an additional 2,175 shares during the period. BlackRock Group LTD raised its position in Knight Transportation by 6.8% in the first quarter. BlackRock Group LTD now owns 81,215 shares of the company’s stock worth $2,123,000 after buying an additional 5,154 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Knight Transportation by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,464,582 shares of the company’s stock worth $38,299,000 after buying an additional 6,463 shares during the period. Norris Perne & French LLP MI raised its position in Knight Transportation by 37.7% in the second quarter. Norris Perne & French LLP MI now owns 151,027 shares of the company’s stock worth $4,014,000 after buying an additional 41,361 shares during the period. Finally, Harvey Investment Co. LLC raised its position in Knight Transportation by 1.6% in the second quarter. Harvey Investment Co. LLC now owns 481,789 shares of the company’s stock worth $12,806,000 after buying an additional 7,784 shares during the period. Hedge funds and other institutional investors 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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