Knight Transportation Inc. (KNX) Trading Up 1.9%
Knight Transportation Inc. (NYSE:KNX) shares were up 1.9% during mid-day trading on Friday . The stock 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.
Several research analysts have issued reports on KNX shares. Bank of America Corp. restated a “neutral” rating and set a $29.00 price target (up previously from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Credit Suisse Group AG lowered shares of Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $28.00 to $26.00 in a report on Thursday, July 7th. Avondale Partners lowered shares of Knight Transportation from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $27.00 to $21.00 in a research note on Thursday, June 23rd. Macquarie lowered shares of Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $27.00 in a research note on Thursday, July 28th. Finally, Deutsche Bank AG lifted their price objective on shares of Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a research note on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $29.00.
The stock has a market cap of $2.31 billion and a PE ratio of 22.02. The stock has a 50-day moving average price of $28.38 and a 200-day moving average price of $26.51.
Knight Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. During the same period last year, the company posted $0.39 EPS. The company had revenue of $276.30 million for the quarter, compared to analysts’ expectations of $283.13 million. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, analysts anticipate that Knight Transportation Inc. 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 Friday, September 30th. Stockholders of record on Friday, September 2nd will be 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 is Wednesday, August 31st.
In other news, VP Wayne Yu sold 3,200 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $29.59, for a total transaction of $94,688.00. Following the completion of the sale, the vice president now owns 8,279 shares of the company’s stock, valued at $244,975.61. The transaction 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 stock in a transaction that occurred on Friday, August 5th. The shares were 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.
Several hedge funds recently added to or reduced their stakes in KNX. Bank of Montreal Can raised its stake in Knight Transportation by 13.0% in the fourth quarter. Bank of Montreal Can now owns 96,922 shares of the company’s stock worth $2,349,000 after buying an additional 11,163 shares during the period. Nicholas Co. Inc. WI raised 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 worth $4,774,000 after buying an additional 40,690 shares during the period. Finally, Dimensional Fund Advisors LP raised 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.
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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