Knight Transportation Inc. (NYSE:KNX) had its target price upped by stock analysts at Citigroup Inc. from $27.00 to $32.00 in a note issued to investors on Friday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s price target indicates a potential upside of 9.40% from the stock’s previous close.

Several other analysts have also recently weighed in on the stock. Zacks Investment Research raised shares of Knight Transportation from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Macquarie cut shares of Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Thursday, July 28th. Credit Suisse Group AG cut shares of Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $28.00 to $26.00 in a report on Thursday, July 7th. Bank of America Corp. reissued a “neutral” rating and set a $29.00 price objective (up previously from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Finally, Avondale Partners cut shares of Knight Transportation from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $27.00 to $21.00 in a report on Thursday, June 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $29.42.

Shares of Knight Transportation (NYSE:KNX) opened at 29.25 on Friday. The stock has a market capitalization of $2.34 billion, a P/E ratio of 22.31 and a beta of 0.92. Knight Transportation has a 12-month low of $20.56 and a 12-month high of $30.38. The stock has a 50 day moving average of $28.62 and a 200 day moving average of $27.05.

Knight Transportation (NYSE:KNX) last issued its earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $276.30 million for the quarter, compared to analysts’ expectations of $283.13 million. Knight Transportation had a net margin of 9.37% and a return on equity of 14.55%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 earnings per share. Equities research analysts anticipate that Knight Transportation will post $1.18 EPS for the current fiscal year.

The company also recently declared 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 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Wednesday, August 31st. Knight Transportation’s dividend payout ratio (DPR) is presently 18.18%.

In related news, Vice Chairman Gary J. Knight sold 99,339 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $28.09, for a total value of $2,790,432.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gary J. Knight sold 29,386 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $28.53, for a total transaction of $838,382.58. The disclosure for this sale can be found here. Insiders own 11.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Knight Transportation by 31.5% in the first quarter. Wellington Management Group LLP now owns 5,602,282 shares of the company’s stock valued at $146,500,000 after buying an additional 1,341,814 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Knight Transportation by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 4,917,991 shares of the company’s stock valued at $130,719,000 after buying an additional 361,291 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Knight Transportation by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,788,436 shares of the company’s stock valued at $127,277,000 after buying an additional 83,623 shares during the last quarter. BlackRock Fund Advisors increased its position in shares of Knight Transportation by 5.0% in the second quarter. BlackRock Fund Advisors now owns 4,053,834 shares of the company’s stock valued at $107,751,000 after buying an additional 192,329 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Knight Transportation by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,134,985 shares of the company’s stock valued at $83,326,000 after buying an additional 281,135 shares during the last quarter. 91.16% of the stock is owned by hedge funds and other institutional investors.

About Knight Transportation

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.

5 Day Chart for NYSE:KNX

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