Positive Press Coverage Somewhat Likely to Impact Knight Transportation (KNX) Stock Price
News coverage about Knight Transportation (NYSE:KNX) has been trending positive recently, according to Accern Sentiment. Accern identifies negative and positive news coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Knight Transportation earned a media sentiment score of 0.38 on Accern’s scale. Accern also assigned press coverage about the transportation company an impact score of 58 out of 100, indicating that recent news coverage is somewhat likely to have an effect on the company’s share price in the next few days.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- Knight Transportation, Inc. breached its 50 day moving average in a Bullish Manner : KNX-US : August 1, 2017 (finance.yahoo.com)
- Q3 2017 Earnings Estimate for Knight Transportation, Inc. (KNX) Issued By KeyCorp (americanbankingnews.com)
- Knight Transportation, Inc. (KNX) Downgraded by Zacks Investment Research to “Hold” (americanbankingnews.com)
- $290.44 Million in Sales Expected for Knight Transportation, Inc. (KNX) This Quarter (americanbankingnews.com)
- Seaport Global Securities Comments on Knight Transportation, Inc.’s Q3 2017 Earnings (KNX) (americanbankingnews.com)
A number of research analysts have commented on the company. BidaskClub cut Knight Transportation from a “buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank AG set a $45.00 price target on Knight Transportation and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research cut Knight Transportation from a “buy” rating to a “hold” rating in a research report on Saturday, July 29th. Bank of America Corporation reiterated a “buy” rating and set a $43.00 price target (up from $41.00) on shares of Knight Transportation in a research report on Monday, July 10th. Finally, Stephens raised Knight Transportation from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $42.00 in a research note on Monday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $38.13.
Shares of Knight Transportation (KNX) traded up 0.71% during mid-day trading on Thursday, hitting $35.40. The company had a trading volume of 883,979 shares. Knight Transportation has a one year low of $26.85 and a one year high of $38.80. The company has a market capitalization of $2.85 billion, a P/E ratio of 36.49 and a beta of 0.86. The firm’s 50-day moving average price is $36.17 and its 200 day moving average price is $33.75.
Knight Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. Knight Transportation had a net margin of 7.03% and a return on equity of 10.39%. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. Analysts predict that Knight Transportation will post $1.00 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.68%. Knight Transportation’s payout ratio is 25.00%.
In other news, Vice Chairman Gary J. Knight sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $33.03, for a total value of $412,875.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP James E. Jr. Updike sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total transaction of $100,100.00. Following the completion of the sale, the vice president now directly owns 16,096 shares in the company, valued at approximately $575,432. The disclosure for this sale can be found here. Over the last quarter, insiders sold 31,269 shares of company stock worth $1,022,977. Corporate insiders own 9.90% of the company’s stock.
Knight Transportation Company Profile
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. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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