Knight Transportation Inc. (KNX) Receives $27.31 Average Price Target from Analysts
Knight Transportation Inc. (NYSE:KNX) has earned an average rating of “Hold” from the twenty ratings firms that are covering the company. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $27.31.
Several research analysts have commented on the company. Barclays PLC raised their price objective on Knight Transportation from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Monday, September 12th. BB&T Corp. reissued a “hold” rating on shares of Knight Transportation in a research report on Friday, July 1st. Zacks Investment Research raised Knight Transportation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Deutsche Bank AG raised their price objective on Knight Transportation from $27.00 to $29.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Finally, Macquarie lowered Knight Transportation from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $27.00 in a research report on Thursday, July 28th.
Shares of Knight Transportation (NYSE:KNX) opened at 27.31 on Monday. Knight Transportation has a 12 month low of $20.56 and a 12 month high of $30.38. The company has a 50 day moving average price of $28.50 and a 200-day moving average price of $27.36. The firm has a market capitalization of $2.19 billion, a PE ratio of 20.83 and a beta of 0.83.
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 Zacks’ consensus estimate of $0.30 by $0.01. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The firm had revenue of $276.30 million for the quarter, compared to analysts’ expectations of $283.13 million. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts expect that Knight Transportation will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.24 annualized dividend and a yield of 0.88%. Knight Transportation’s payout ratio is 18.18%.
In related news, Vice Chairman Gary J. Knight sold 99,339 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $28.09, for a total transaction of $2,790,432.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kevin P. Knight sold 500,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $29.44, for a total value of $14,720,000.00. The disclosure for this sale can be found here. Corporate insiders own 11.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Profund Advisors LLC boosted its stake in shares of Knight Transportation by 0.5% in the second quarter. Profund Advisors LLC now owns 13,992 shares of the company’s stock valued at $372,000 after buying an additional 72 shares during the last quarter. Capstone Asset Management Co. boosted its position in Knight Transportation by 0.7% in the second quarter. Capstone Asset Management Co. now owns 18,117 shares of the company’s stock valued at $482,000 after buying an additional 120 shares in the last quarter. Arizona State Retirement System boosted its position in Knight Transportation by 0.6% in the second quarter. Arizona State Retirement System now owns 31,610 shares of the company’s stock valued at $840,000 after buying an additional 200 shares in the last quarter. PineBridge Investments L.P. boosted its position in Knight Transportation by 3.2% in the second quarter. PineBridge Investments L.P. now owns 7,731 shares of the company’s stock valued at $205,000 after buying an additional 241 shares in the last quarter. Finally, Huntington National Bank boosted its position in Knight Transportation by 7.5% in the second quarter. Huntington National Bank now owns 6,789 shares of the company’s stock valued at $180,000 after buying an additional 471 shares in the last quarter. 91.16% of the stock is currently 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.
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