Knight Transportation Inc. (KNX) Stock Price Up 1.7%
Knight Transportation Inc. (NYSE:KNX) rose 1.7% during trading on Wednesday . The stock traded as high as $28.79 and last traded at $28.74, with a volume of 348,311 shares trading hands. The stock had previously closed at $28.25.
KNX has been the topic of several research reports. Bank of America Corp. reiterated a “neutral” rating and issued a $29.00 price objective (up previously from $28.00) on shares of Knight Transportation in a research note on Tuesday, June 21st. Zacks Investment Research lowered shares of Knight Transportation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. Avondale Partners lowered shares of Knight Transportation from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $27.00 to $21.00 in a research note on Thursday, June 23rd. Cowen and Company upped their price objective on shares of Knight Transportation from $26.00 to $27.00 and gave the company a “market perform” rating in a research note on Thursday, April 21st. Finally, Macquarie upped their price objective on shares of Knight Transportation from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, April 21st. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $29.00.
The firm has a market capitalization of $2.27 billion and a P/E ratio of 21.08. The company has a 50-day moving average price of $26.66 and a 200-day moving average price of $25.51.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, April 20th. The company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. The firm had revenue of $272.10 million for the quarter, compared to analyst estimates of $283.31 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Knight Transportation Inc. will post $1.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Stockholders of record on Friday, June 3rd were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date was Wednesday, June 1st.
In related news, Director G D. Madden sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $26.67, for a total transaction of $26,670.00. Following the transaction, the director now directly owns 55,288 shares in the company, valued at $1,474,530.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Gary J. Knight sold 15,000 shares of the business’s stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $27.00, for a total transaction of $405,000.00. The disclosure for this sale can be found here.
Other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors increased its position in shares of Knight Transportation by 28.5% in the fourth quarter. Nationwide Fund Advisors now owns 58,140 shares of the company’s stock worth $1,409,000 after buying an additional 12,887 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Knight Transportation by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 115,948 shares of the company’s stock worth $2,809,000 after buying an additional 1,910 shares during the last quarter. Rhumbline Advisers increased its position in shares of Knight Transportation by 3.6% in the fourth quarter. Rhumbline Advisers now owns 96,837 shares of the company’s stock worth $2,346,000 after buying an additional 3,370 shares during the last quarter. State of Wisconsin Investment Board increased its position in shares of Knight Transportation by 0.9% in the fourth quarter. State of Wisconsin Investment Board now owns 461,222 shares of the company’s stock worth $11,175,000 after buying an additional 4,163 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Knight Transportation by 3.2% in the fourth quarter. Brown Advisory Inc. now owns 877,715 shares of the company’s stock worth $21,267,000 after buying an additional 27,163 shares during the last quarter.
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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