Brokerages Set Knight Transportation Inc. (KNX) Target Price at $27.31
Knight Transportation Inc. (NYSE:KNX) has been given a consensus rating of “Hold” by the twenty analysts that are presently covering the company. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $27.31.
Several research analysts recently issued reports on KNX shares. Bank of America Corp. reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $28.00) on shares of Knight Transportation in a research report on Tuesday, June 21st. Avondale Partners cut Knight Transportation from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $27.00 to $21.00 in a research report on Thursday, June 23rd. BB&T Corp. reissued a “hold” rating on shares of Knight Transportation in a research report on Friday, July 1st. Credit Suisse Group AG cut Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $28.00 to $26.00 in a research report on Thursday, July 7th. Finally, Citigroup Inc. boosted their price objective on Knight Transportation from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, July 11th.
In other news, VP Wayne Yu sold 3,200 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $29.59, for a total value of $94,688.00. Following the completion of the transaction, the vice president now directly owns 8,279 shares in the company, valued at approximately $244,975.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Gary J. Knight sold 99,339 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was 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.
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Knight Transportation during the second quarter worth about $107,000. BlackRock Inc. boosted its position in Knight Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the company’s stock worth $109,000 after buying an additional 2,339 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Knight Transportation by 3,916.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,418 shares of the company’s stock worth $118,000 after buying an additional 4,308 shares during the last quarter. Creative Planning boosted its position in Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock worth $146,000 after buying an additional 2,000 shares during the last quarter. Finally, Huntington National Bank boosted its position in Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock worth $180,000 after buying an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 91.16% of the company’s stock.
Shares of Knight Transportation (NYSE:KNX) opened at 28.41 on Monday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 21.67 and a beta of 0.83. Knight Transportation has a 12-month low of $20.56 and a 12-month high of $30.38. The stock’s 50 day moving average price is $28.58 and its 200 day moving average price is $27.35.
Knight Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The company had revenue of $276.30 million for the quarter, compared to analysts’ expectations 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 firm earned $0.39 earnings per share. Equities research analysts expect 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. Investors of record on Friday, September 2nd were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.84%. The ex-dividend date 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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