Knight Transportation, Inc. (KNX) Receives New Coverage from Analysts at Buckingham Research
Research analysts at Buckingham Research assumed coverage on shares of Knight Transportation, Inc. (NYSE:KNX) in a research note issued to investors on Monday. The brokerage set a “buy” rating and a $43.00 price target on the transportation company’s stock. Buckingham Research’s price objective would suggest a potential upside of 15.59% from the company’s previous close.
KNX has been the topic of a number of other reports. UBS AG upgraded Knight Transportation from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.00 to $43.00 in a research note on Monday, April 24th. BidaskClub lowered Knight Transportation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 12th. Deutsche Bank AG set a $45.00 price objective on Knight Transportation and gave the company a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Knight Transportation from a “buy” rating to a “hold” rating and set a $40.00 price objective on the stock. in a research note on Wednesday, July 12th. Finally, Stephens upgraded Knight Transportation from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $36.00 to $42.00 in a research note on Monday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Knight Transportation has a consensus rating of “Buy” and a consensus price target of $38.44.
Knight Transportation (KNX) opened at 37.20 on Monday. Knight Transportation has a 52-week low of $26.85 and a 52-week high of $38.80. The firm’s 50-day moving average price is $36.37 and its 200 day moving average price is $34.06. The company has a market cap of $3.00 billion, a PE ratio of 38.35 and a beta of 0.86.
Knight Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. The firm had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. During the same quarter in the prior year, the firm earned $0.31 EPS. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Knight Transportation will post $0.99 EPS for the current fiscal year.
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 transaction, the vice president now directly owns 16,096 shares in the company, valued at approximately $575,432. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Todd F. Carlson sold 3,000 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $37.86, for a total value of $113,580.00. Following the completion of the transaction, the general counsel now owns 23,638 shares in the company, valued at $894,934.68. The disclosure for this sale can be found here. Insiders sold a total of 7,675 shares of company stock worth $282,155 over the last 90 days. Corporate insiders own 9.90% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Knight Transportation by 11.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,794 shares of the transportation company’s stock worth $104,000 after buying an additional 288 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Knight Transportation by 33.5% in the first quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock valued at $105,000 after buying an additional 844 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of Knight Transportation during the first quarter valued at approximately $122,000. Huntington National Bank raised its position in shares of Knight Transportation by 17.4% in the first quarter. Huntington National Bank now owns 3,976 shares of the transportation company’s stock valued at $125,000 after buying an additional 590 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Knight Transportation by 43.6% in the first quarter. Victory Capital Management Inc. now owns 4,578 shares of the transportation company’s stock valued at $144,000 after buying an additional 1,390 shares during the period. Institutional investors and hedge funds own 89.30% 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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