The Knight Transportation Inc. (KNX) Coverage Initiated at Knight Equity

The Knight Transportation Inc. (KNX) Coverage Initiated at Knight Equity

Investment analysts at Knight Equity began coverage on shares of Knight Transportation Inc. (NYSE:KNX) in a research note issued on Wednesday. The firm set a “hold” rating and a $32.00 price target on the stock. Knight Equity’s price objective suggests a potential downside of 8.96% from the company’s previous close.

Several other equities analysts have also weighed in on KNX. Zacks Investment Research lowered shares of Knight Transportation from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Citigroup Inc. increased their price objective on shares of Knight Transportation from $27.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, September 16th. Barclays PLC increased their price objective on shares of Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Monday, September 12th. Deutsche Bank AG increased their price objective on shares of Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a report on Friday, July 29th. Finally, Macquarie lowered shares of Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $27.00 in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Knight Transportation presently has an average rating of “Hold” and an average price target of $27.44.

Knight Transportation (NYSE:KNX) remained flat at $35.15 on Wednesday. The company had a trading volume of 345,960 shares. Knight Transportation has a one year low of $20.56 and a one year high of $35.55. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 28.55 and a beta of 0.73. The firm has a 50-day moving average of $30.53 and a 200 day moving average of $28.37.

Knight Transportation (NYSE:KNX) last announced its earnings results on Wednesday, October 26th. The company reported $0.29 earnings per share (EPS) 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 company had revenue of $280.50 million for the quarter, compared to analyst estimates of $279.34 million. During the same period in the prior year, the business earned $0.37 earnings per share. Knight Transportation’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts predict that Knight Transportation will post $1.18 EPS for the current fiscal year.

The firm also recently announced 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 dividend on an annualized basis 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 currently 19.35%.

In other Knight Transportation news, Vice Chairman Gary J. Knight sold 99,339 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $28.09, for a total value of $2,790,432.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Gary J. Knight sold 29,386 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $28.53, for a total transaction of $838,382.58. The disclosure for this sale can be found here. 11.60% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Profund Advisors LLC boosted its stake in shares of Knight Transportation by 0.5% in the second quarter. Profund Advisors LLC now owns 13,992 shares of the company’s stock worth $372,000 after buying an additional 72 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Knight Transportation by 2.8% in the third quarter. Bank of Montreal Can now owns 4,093 shares of the company’s stock worth $118,000 after buying an additional 110 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock worth $482,000 after buying an additional 120 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of Knight Transportation by 3.8% in the third quarter. D.A. Davidson & CO. now owns 3,853 shares of the company’s stock worth $110,000 after buying an additional 140 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Knight Transportation by 0.6% in the second quarter. Arizona State Retirement System now owns 31,610 shares of the company’s stock worth $840,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.85% of the company’s stock.

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