Knight Transportation Inc. (KNX) Trading 1.9% Higher
Shares of Knight Transportation Inc. (NYSE:KNX) traded up 1.9% during trading on Friday . The company traded as high as $28.96 and last traded at $28.77, with a volume of 419,131 shares traded. The stock had previously closed at $28.22.
A number of analysts recently commented on the company. Deutsche Bank AG lifted their price objective on Knight Transportation from $27.00 to $29.00 and gave the stock a “hold” rating in a research report on Friday, July 29th. Macquarie cut Knight Transportation from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $27.00 in a research report on Thursday, July 28th. Bank of America Corp. reiterated a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Knight Transportation in a research 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. Finally, Citigroup Inc. lifted their price target on Knight Transportation from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 11th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $29.00.
The stock has a 50 day moving average of $28.32 and a 200-day moving average of $26.48. The firm has a market cap of $2.31 billion and a P/E ratio of 22.02.
Knight Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. During the same period in the previous year, the company earned $0.39 earnings per share. The firm earned $276.30 million during the quarter, compared to analyst estimates of $283.13 million. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. Analysts anticipate that Knight Transportation Inc. will post $1.18 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, August 31st.
In other Knight Transportation news, VP Wayne Yu sold 3,200 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $29.59, for a total value of $94,688.00. Following the transaction, the vice president now directly owns 8,279 shares of the company’s stock, valued at approximately $244,975.61. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kevin P. Knight sold 500,000 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $28.86, for a total value of $14,430,000.00. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Knight Transportation by 13.0% in the fourth quarter. Bank of Montreal Can now owns 96,922 shares of the company’s stock valued at $2,349,000 after buying an additional 11,163 shares during the last quarter. Nicholas Co. Inc. WI increased its stake in Knight Transportation by 26.0% in the fourth quarter. Nicholas Co. Inc. WI now owns 197,045 shares of the company’s stock valued at $4,774,000 after buying an additional 40,690 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 valued at $68,412,000 after buying an additional 352,764 shares during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.