Knight Transportation Inc. (KNX) Stock Price Up 1.7%
Knight Transportation Inc. (NYSE:KNX)’s share price rose 1.7% on Wednesday . The stock traded as high as $28.79 and last traded at $28.74, with a volume of 348,311 shares trading hands. The stock had previously closed at $28.25.
A number of research firms have recently commented on KNX. Cowen and Company lowered shares of Knight Transportation from an “outperform” rating to a “market perform” rating and set a $26.00 price target on the stock. in a research report on Monday, March 21st. Credit Suisse Group AG lifted their price target on shares of Knight Transportation from $23.00 to $24.00 and gave the company an “underperform” rating in a research report on Monday, March 28th. Zacks Investment Research raised shares of Knight Transportation from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, April 5th. Barclays PLC lowered shares of Knight Transportation from an “overweight” rating to an “equal weight” rating and set a $24.00 price target on the stock. in a research report on Thursday, April 7th. Finally, Stifel Nicolaus lowered shares of Knight Transportation from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Thursday, April 21st. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.
The company has a market capitalization of $2.31 billion and a P/E ratio of 21.48. The stock’s 50-day moving average price is $26.50 and its 200 day moving average price is $25.47.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. During the same quarter in the prior year, the company posted $0.36 EPS. The firm earned $272.10 million during the quarter, compared to the consensus estimate of $283.31 million. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts anticipate that Knight Transportation Inc. will post $1.23 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 3rd were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Wednesday, June 1st.
In related news, Director G D. Madden sold 1,000 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $26.67, for a total value of $26,670.00. Following the sale, the director now owns 55,288 shares in the company, valued at approximately $1,474,530.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gary J. Knight sold 15,000 shares of the stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $27.00, for a total value of $405,000.00. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in Knight Transportation by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,823,459 shares of the company’s stock worth $68,412,000 after buying an additional 352,764 shares during the period. Royce & Associates LLC raised its position in shares of Knight Transportation by 166.2% in the fourth quarter. Royce & Associates LLC now owns 521,462 shares of the company’s stock worth $12,635,000 after buying an additional 325,600 shares in the last quarter. Glacier Peak Capital LLC purchased a new position in shares of Knight Transportation during the fourth quarter worth approximately $2,484,000. Victory Capital Management Inc. raised its position in shares of Knight Transportation by 7.0% in the fourth quarter. Victory Capital Management Inc. now owns 781,293 shares of the company’s stock worth $18,931,000 after buying an additional 51,052 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in shares of Knight Transportation by 3.2% in the fourth quarter. Brown Advisory Inc. now owns 877,715 shares of the company’s stock worth $21,267,000 after buying an additional 27,163 shares in the last quarter.
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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