BidaskClub Lowers Knight Transportation, Inc. (NYSE:KNX) to Buy
Knight Transportation, Inc. (NYSE:KNX) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday, July 12th.
KNX has been the topic of several other research reports. Credit Suisse Group reiterated an “outperform” rating and set a $35.00 price objective (up previously from $32.00) on shares of Knight Transportation in a report on Friday, April 14th. Deutsche Bank AG restated a “buy” rating and issued a $39.00 target price (down previously from $40.00) on shares of Knight Transportation in a research note on Friday, April 28th. Vertical Research assumed coverage on Knight Transportation in a research note on Thursday, April 13th. They issued a “buy” rating and a $48.00 target price on the stock. Vertical Group assumed coverage on Knight Transportation in a research report on Thursday, April 13th. They set a “buy” rating and a $48.00 price target on the stock. Finally, Robert W. Baird raised Knight Transportation from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $35.00 to $36.00 in a research report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.13.
Shares of Knight Transportation (NYSE:KNX) traded up 0.27% during midday trading on Wednesday, hitting $36.85. 1,393,130 shares of the stock were exchanged. The stock has a market cap of $2.97 billion, a P/E ratio of 37.99 and a beta of 0.86. Knight Transportation has a one year low of $26.85 and a one year high of $38.80. The stock’s 50-day moving average price is $36.15 and its 200 day moving average price is $33.79.
Knight Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. The business had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. During the same quarter in the previous year, the business posted $0.31 EPS. Knight Transportation’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Knight Transportation will post $1.00 earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: This article was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this article on another site, it was stolen and reposted in violation of US & international copyright & trademark law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/08/08/bidaskclub-downgrades-knight-transportation-inc-nyseknx-to-buy-updated-updated-updated.html.
In other Knight Transportation news, VP James E. Jr. Updike sold 2,800 shares of the company’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $35.75, for a total value of $100,100.00. Following the completion of the transaction, the vice president now owns 16,096 shares of the company’s stock, valued at approximately $575,432. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Kevin Quast sold 3,469 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $31.71, for a total value of $110,001.99. Following the completion of the transaction, the chief operating officer now directly owns 63,497 shares of the company’s stock, valued at approximately $2,013,489.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,769 shares of company stock valued at $610,102. 9.90% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. State Street Corp boosted its stake in Knight Transportation by 11.6% in the fourth quarter. State Street Corp now owns 1,673,420 shares of the transportation company’s stock valued at $55,302,000 after buying an additional 174,137 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Knight Transportation during the fourth quarter valued at approximately $4,272,000. Guggenheim Capital LLC boosted its stake in Knight Transportation by 199.5% in the fourth quarter. Guggenheim Capital LLC now owns 40,928 shares of the transportation company’s stock valued at $1,353,000 after buying an additional 27,264 shares in the last quarter. Norges Bank acquired a new stake in Knight Transportation during the fourth quarter valued at approximately $16,172,000. Finally, Teachers Advisors LLC boosted its stake in Knight Transportation by 2.0% in the fourth quarter. Teachers Advisors LLC now owns 110,134 shares of the transportation company’s stock valued at $3,640,000 after buying an additional 2,118 shares in the last quarter. 87.92% of the stock is owned by institutional investors.
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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.