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.

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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.

Analyst Recommendations for Knight Transportation (NYSE:KNX)

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