Knight Transportation Inc. (KNX) Receives $27.75 Consensus Target Price from Brokerages
Shares of Knight Transportation Inc. (NYSE:KNX) have earned a consensus recommendation of “Hold” from the twenty brokerages that are covering the company. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $27.75.
A number of brokerages recently weighed in on KNX. Zacks Investment Research upgraded Knight Transportation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Macquarie cut Knight Transportation from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $27.00 in a research note on Thursday, July 28th. Deutsche Bank AG began coverage on Knight Transportation in a research note on Wednesday, November 2nd. They set a “hold” rating and a $32.00 price objective for the company. Citigroup Inc. upped their price objective on Knight Transportation from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th. Finally, Barclays PLC upped their price objective 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.
Knight Transportation (NYSE:KNX) opened at 34.60 on Monday. The company has a market capitalization of $2.77 billion, a PE ratio of 28.11 and a beta of 0.73. Knight Transportation has a 52-week low of $20.56 and a 52-week high of $35.25. The company has a 50 day moving average of $29.45 and a 200 day moving average of $28.00.
Knight Transportation (NYSE:KNX) last issued its earnings results on Wednesday, October 26th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Knight Transportation had a return on equity of 13.37% and a net margin of 8.92%. The business earned $280.50 million during the quarter, compared to analysts’ expectations of $279.34 million. During the same period in the prior year, the business earned $0.37 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Knight Transportation will post $1.18 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 27th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.24 dividend on an annualized basis and a yield of 0.69%. Knight Transportation’s dividend payout ratio is currently 19.35%.
In other Knight Transportation news, Vice Chairman Gary J. Knight sold 29,386 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $28.53, for a total transaction of $838,382.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Gary J. Knight sold 99,339 shares of the stock in a transaction that occurred on 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. Company insiders own 11.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of KNX. Bank of Montreal Can acquired a new position in shares of Knight Transportation during the second quarter worth about $107,000. BlackRock Inc. increased its position in shares of 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 in the last quarter. Tower Research Capital LLC TRC increased its position in shares of 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 in the last quarter. Creative Planning increased its position in shares of 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 in the last quarter. Finally, Huntington National Bank increased its position in shares of 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 in the last quarter. Institutional investors own 89.61% 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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