Knight Equity started 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 target points to a potential downside of 8.96% from the company’s current price.
A number of other research firms also recently issued reports on KNX. Deutsche Bank AG boosted their price target on Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Credit Suisse Group AG downgraded Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price target for the company from $28.00 to $26.00 in a research note on Thursday, July 7th. Citigroup Inc. boosted their price target on Knight Transportation from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Barclays PLC boosted their price target on Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, September 12th. Finally, Zacks Investment Research downgraded Knight Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.44.
Shares of Knight Transportation (NYSE:KNX) remained flat at $35.15 during midday trading on Wednesday. The stock had a trading volume of 345,960 shares. The company has a market cap of $2.81 billion, a PE ratio of 28.55 and a beta of 0.73. The company has a 50-day moving average price of $30.53 and a 200 day moving average price of $28.37. Knight Transportation has a 12 month low of $20.56 and a 12 month high of $35.55.
Knight Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The business earned $280.50 million during the quarter, compared to the consensus estimate of $279.34 million. Knight Transportation had a return on equity of 13.37% and a net margin of 8.92%. The business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Analysts predict that Knight Transportation will post $1.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 27th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, November 30th. Knight Transportation’s dividend payout ratio is currently 19.35%.
In other news, Vice Chairman Gary J. Knight sold 99,339 shares of the business’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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman Gary J. Knight sold 29,386 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $28.53, for a total value of $838,382.58. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in KNX. D.A. Davidson & CO. increased its position in Knight Transportation by 3.8% in the third quarter. D.A. Davidson & CO. now owns 3,853 shares of the company’s stock valued at $110,000 after buying an additional 140 shares in the last quarter. Bank of Montreal Can bought a new position in Knight Transportation during the second quarter valued at $107,000. BlackRock Inc. increased its position in Knight Transportation by 125.3% in the first quarter. BlackRock Inc. now owns 4,206 shares of the company’s stock valued at $109,000 after buying an additional 2,339 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Knight Transportation by 3,916.4% in the second quarter. Tower Research Capital LLC TRC now owns 4,418 shares of the company’s stock valued at $118,000 after buying an additional 4,308 shares in the last quarter. Finally, Creative Planning increased its position in Knight Transportation by 57.1% in the second quarter. Creative Planning now owns 5,500 shares of the company’s stock valued at $146,000 after buying an additional 2,000 shares in the last quarter. 87.85% of the stock is currently owned by hedge funds and other institutional investors.
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