Knight Transportation Inc. (KNX) Sets New 1-Year High at $29.22
Shares of Knight Transportation Inc. (NYSE:KNX) reached a new 52-week high on Thursday . The company traded as high as $29.22 and last traded at $28.44, with a volume of 269,551 shares. The stock had previously closed at $28.78.
KNX has been the topic of a number of analyst reports. Bank of America Corp. reaffirmed a “neutral” rating and set a $29.00 target price (up previously from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Zacks Investment Research lowered shares of Knight Transportation from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Avondale Partners lowered shares of Knight Transportation from a “market perform” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $21.00 in a report on Thursday, June 23rd. Cowen and Company upped their target price on shares of Knight Transportation from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, April 21st. Finally, Macquarie upped their target price on shares of Knight Transportation from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, April 21st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. Knight Transportation currently has an average rating of “Hold” and an average target price of $29.00.
The stock has a market capitalization of $2.27 billion and a price-to-earnings ratio of 21.12. The firm’s 50 day moving average is $26.74 and its 200 day moving average is $25.54.
Knight Transportation (NYSE:KNX) last announced its earnings results on Wednesday, April 20th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by $0.01. The company earned $272.10 million during the quarter, compared to the consensus estimate of $283.31 million. During the same period last year, the business earned $0.36 EPS. Knight Transportation’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts expect that Knight Transportation Inc. will post $1.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, June 1st.
In related news, Director G D. Madden sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The stock was sold at an average price of $26.67, for a total transaction of $26,670.00. Following the completion of the transaction, the director now directly owns 55,288 shares in the company, valued at approximately $1,474,530.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Gary J. Knight sold 15,000 shares of the firm’s stock in a transaction dated 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 institutional investors recently made changes to their positions in the company. Nationwide Fund Advisors boosted its position in shares of Knight Transportation by 28.5% in the fourth quarter. Nationwide Fund Advisors now owns 58,140 shares of the company’s stock valued at $1,409,000 after buying an additional 12,887 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Knight Transportation by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 115,948 shares of the company’s stock valued at $2,809,000 after buying an additional 1,910 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Knight Transportation by 3.6% in the fourth quarter. Rhumbline Advisers now owns 96,837 shares of the company’s stock valued at $2,346,000 after buying an additional 3,370 shares during the last quarter. State of Wisconsin Investment Board boosted its position in shares of Knight Transportation by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 461,222 shares of the company’s stock valued at $11,175,000 after buying an additional 4,163 shares during the last quarter. Finally, Brown Advisory Inc. boosted 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 valued at $21,267,000 after buying an additional 27,163 shares during 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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