Knight Transportation Inc. (KNX) Hits New 1-Year High at $29.59
Knight Transportation Inc. (NYSE:KNX) hit a new 52-week high during trading on Friday . The stock traded as high as $29.59 and last traded at $29.33, with a volume of 720,546 shares. The stock had previously closed at $28.13.
Several equities research analysts recently commented on the company. Bank of America Corp. reissued 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 cut Knight Transportation from a “hold” rating to a “sell” rating in a report on Wednesday, April 27th. Citigroup Inc. boosted their target price on Knight Transportation from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 11th. Credit Suisse Group AG cut Knight Transportation from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $28.00 to $26.00 in a report on Thursday, July 7th. Finally, Cowen and Company boosted their target price on Knight Transportation from $26.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, April 21st. Three investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $29.00.
The firm has a market capitalization of $2.37 billion and a price-to-earnings ratio of 22.06. The stock’s 50 day moving average is $26.94 and its 200-day moving average is $25.64.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 3rd were issued a $0.06 dividend. The ex-dividend date of this dividend was Wednesday, June 1st. This represents a $0.24 annualized dividend and a yield of 0.85%.
In related news, Director G D. Madden sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $26.67, for a total value of $26,670.00. Following the transaction, the director now directly owns 55,288 shares in the company, valued at $1,474,530.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of large investors have recently bought and sold shares of KNX. Nationwide Fund Advisors raised its stake in 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 period. California State Teachers Retirement System raised its stake in 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 period. Rhumbline Advisers raised its stake in 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 period. State of Wisconsin Investment Board raised its stake in 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 period. Finally, Glacier Peak Capital LLC purchased a new stake in Knight Transportation during the fourth quarter valued at $2,484,000.
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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