Knight Transportation Inc. (KNX) Trading Down 1.9%
Knight Transportation Inc. (NYSE:KNX) dropped 1.9% during mid-day trading on Thursday . The stock traded as low as $28.47 and last traded at $28.67, with a volume of 400,261 shares changing hands. The stock had previously closed at $29.24.
KNX has been the topic of several analyst reports. Credit Suisse Group AG lowered shares of Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $28.00 to $26.00 in a report on Thursday, July 7th. Deutsche Bank AG boosted their price target on shares of Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a report on Friday, July 29th. Zacks Investment Research raised shares of Knight Transportation from a “sell” rating to a “hold” rating in a report on Tuesday. Bank of America Corp. reissued a “neutral” rating and issued a $29.00 price target (up previously from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Finally, Macquarie lowered shares of Knight Transportation from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $29.00 to $27.00 in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $29.00.
The company has a market cap of $2.26 billion and a PE ratio of 21.56. The company has a 50 day moving average price of $28.60 and a 200 day moving average price of $26.63.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. During the same period in the prior year, the business earned $0.39 EPS. The business had revenue of $276.30 million for the quarter, compared to analyst estimates of $283.13 million. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. On average, equities research analysts forecast that Knight Transportation Inc. will post $1.18 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.85%. The ex-dividend date is Wednesday, August 31st.
In other Knight Transportation news, insider Kevin P. Knight sold 500,000 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $28.86, for a total transaction of $14,430,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Wayne Yu sold 3,200 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $29.59, for a total value of $94,688.00. Following the sale, the vice president now directly owns 8,279 shares of the company’s stock, valued at approximately $244,975.61. The disclosure for this sale can be found here.
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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