Today: Brokerages Expect Knight Transportation Inc. (KNX) to Announce $0.31 EPS

Today: Brokerages Expect Knight Transportation Inc. (KNX) to Announce $0.31 EPS

Knight Transportation Inc. (NYSE:KNX) has been given a consensus broker rating score of 3.18 (Hold) from the fourteen analysts that provide coverage for the company, Zacks Investment Research reports. Two analysts have rated the stock with a strong sell rating, eleven have issued a hold rating and one has issued a buy rating on the company. Knight Transportation’s rating score has declined by 4.6% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a twelve-month consensus price target of $27.92 for the company and are forecasting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also given Knight Transportation an industry rank of 248 out of 265 based on the ratings given to its competitors.

KNX has been the subject of a number of recent research reports. Barclays PLC upped their price objective on shares of Knight Transportation from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Monday, September 12th. Zacks Investment Research upgraded shares of Knight Transportation from a “sell” rating to a “hold” rating in a report on Saturday, November 5th. Deutsche Bank AG initiated coverage on shares of Knight Transportation in a report on Wednesday, November 2nd. They issued a “hold” rating and a $32.00 price objective for the company. Knight Equity initiated coverage on shares of Knight Transportation in a report on Wednesday, November 2nd. They issued a “hold” rating and a $32.00 price objective for the company. Finally, Citigroup Inc. upped their price objective on shares of Knight Transportation from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, September 16th.

In other news, Vice Chairman Gary J. Knight sold 171,275 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $28.51, for a total transaction of $4,883,050.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary J. Knight sold 99,339 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $28.09, for a total transaction of $2,790,432.51. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of KNX. OLD National Bancorp IN purchased a new stake in Knight Transportation during the third quarter valued at $259,000. Bank of New York Mellon Corp raised its stake in Knight Transportation by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 4,917,991 shares of the company’s stock valued at $130,719,000 after buying an additional 361,291 shares during the last quarter. Harvey Investment Co. LLC raised its stake in Knight Transportation by 1.6% in the second quarter. Harvey Investment Co. LLC now owns 481,789 shares of the company’s stock valued at $12,806,000 after buying an additional 7,784 shares during the last quarter. GW&K Investment Management LLC raised its stake in Knight Transportation by 12.3% in the second quarter. GW&K Investment Management LLC now owns 101,297 shares of the company’s stock valued at $2,692,000 after buying an additional 11,059 shares during the last quarter. Finally, RS Investment Management Co. LLC raised its stake in Knight Transportation by 0.3% in the second quarter. RS Investment Management Co. LLC now owns 716,745 shares of the company’s stock valued at $19,051,000 after buying an additional 2,175 shares during the last quarter. 94.25% of the stock is owned by institutional investors.

Shares of Knight Transportation (NYSE:KNX) traded down 0.925% during mid-day trading on Monday, reaching $34.825. The company had a trading volume of 313,578 shares. Knight Transportation has a 52-week low of $20.56 and a 52-week high of $35.55. The company’s 50-day moving average price is $30.53 and its 200-day moving average price is $28.37. The company has a market capitalization of $2.79 billion, a PE ratio of 28.290 and a beta of 0.73.

Knight Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.01. Knight Transportation had a net margin of 8.92% and a return on equity of 13.37%. The business had revenue of $280.50 million for the quarter, compared to the consensus estimate of $279.34 million. During the same period in the prior year, the business posted $0.37 earnings per share. Knight Transportation’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, 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. Investors of record on Friday, December 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Wednesday, November 30th. Knight Transportation’s dividend payout ratio (DPR) is presently 19.35%.

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. The Company operates primarily in the United States with minor operations in Canada and Mexico.

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