Trading Report: Today: Zacks: Knight Transportation Inc. (KNX) Given $27.92 Average Target Price by Analysts

Today: Zacks: Knight Transportation Inc. (KNX) Given $27.92 Average Target Price by Analysts

Shares of Knight Transportation Inc. (NYSE:KNX) have been assigned a consensus broker rating score of 3.18 (Hold) from the fourteen brokers that provide coverage for the company, Zacks Investment Research reports. Two equities research 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% in the last 90 days as a result of a number of analysts’ ratings changes.

Analysts have set a 12 month consensus target price of $27.92 for the company and are expecting that the company will post $0.31 EPS for the current quarter, according to Zacks. Zacks has also assigned Knight Transportation an industry rank of 248 out of 265 based on the ratings given to its competitors.

Several analysts have recently weighed in on KNX shares. Knight Equity started coverage on shares of Knight Transportation in a report on Wednesday, November 2nd. They set a “hold” rating and a $32.00 price objective for the company. Citigroup Inc. increased their price target on shares of 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 increased their price target on shares of Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Monday, September 12th. Zacks Investment Research cut shares of Knight Transportation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Finally, Deutsche Bank AG started coverage on shares of Knight Transportation in a research note on Wednesday, November 2nd. They set a “hold” rating and a $32.00 price target on the stock.

In related news, Vice Chairman Gary J. Knight sold 171,275 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary J. Knight sold 99,339 shares of the firm’s stock in a transaction 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. Corporate insiders own 11.60% of the company’s stock.

Several large investors have recently modified their holdings of KNX. OLD National Bancorp IN acquired a new stake in shares of Knight Transportation during the third quarter valued at about $259,000. Bank of New York Mellon Corp raised its stake in shares of 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 shares of 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 shares of 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 shares of 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. Institutional investors and hedge funds own 94.25% of the company’s stock.

Knight Transportation (NYSE:KNX) traded down 0.925% on Monday, hitting $34.825. The company’s stock had a trading volume of 313,578 shares. 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 1-year low of $20.56 and a 1-year high of $35.55. The company has a market capitalization of $2.79 billion, a P/E ratio of 28.290 and a beta of 0.73.

Knight Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The company earned $280.50 million during the quarter, compared to analyst estimates of $279.34 million. Knight Transportation had a net margin of 8.92% and a return on equity of 13.37%. The company’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities analysts forecast that Knight Transportation will post $1.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 27th. Investors of record on Friday, December 2nd will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.68%. Knight Transportation’s payout ratio is 19.35%.

About Knight Transportation

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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