The Knight Transportation Inc. (KNX) Receives New Coverage from Analysts at Knight Equity

The Knight Transportation Inc. (KNX) Receives New Coverage from Analysts at Knight Equity

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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