Knight Transportation, Inc. (NYSE:KNX)‘s stock had its “buy” rating reissued by investment analysts at Bank of America Corporation in a research note issued on Monday. They presently have a $43.00 price objective on the transportation company’s stock, up from their prior price objective of $41.00. Bank of America Corporation’s price objective would suggest a potential upside of 19.28% from the stock’s previous close.
A number of other equities research analysts also recently commented on KNX. Barclays PLC reiterated an “underweight” rating and issued a $30.00 target price (down from $34.00) on shares of Knight Transportation in a research report on Friday, March 24th. They noted that the move was a valuation call. Deutsche Bank AG upgraded Knight Transportation from a “hold” rating to a “buy” rating and boosted their target price for the stock from $33.00 to $40.00 in a research report on Tuesday, April 11th. Stifel Nicolaus reiterated a “hold” rating and issued a $27.00 target price on shares of Knight Transportation in a research report on Wednesday, April 12th. Vertical Group started coverage on Knight Transportation in a research report on Thursday, April 13th. They issued a “buy” rating and a $48.00 target price on the stock. Finally, Vertical Research started coverage on Knight Transportation in a research report on Thursday, April 13th. They issued a “buy” rating and a $48.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Knight Transportation has a consensus rating of “Buy” and a consensus target price of $36.73.
Shares of Knight Transportation (KNX) traded down 2.96% during trading on Monday, hitting $36.05. The company had a trading volume of 1,469,239 shares. Knight Transportation has a 52 week low of $26.85 and a 52 week high of $38.80. The firm’s 50 day moving average is $34.46 and its 200-day moving average is $33.41. The stock has a market capitalization of $2.90 billion, a P/E ratio of 34.01 and a beta of 0.87.
Knight Transportation (NYSE:KNX) last posted its earnings results on Wednesday, April 26th. The transportation company reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $271.18 million for the quarter, compared to the consensus estimate of $276.27 million. Knight Transportation had a return on equity of 11.16% and a net margin of 7.61%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 earnings per share. Equities research analysts anticipate that Knight Transportation will post $1.01 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Friday, June 2nd were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.67%. Knight Transportation’s dividend payout ratio is 22.86%.
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In other news, insider David A. Jackson sold 12,500 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $32.00, for a total transaction of $400,000.00. Following the transaction, the insider now owns 34,577 shares of the company’s stock, valued at $1,106,464. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP James E. Jr. Updike sold 2,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total value of $100,100.00. Following the transaction, the vice president now directly owns 16,096 shares in the company, valued at approximately $575,432. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,844 shares of company stock worth $1,626,502. Insiders own 9.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Knight Transportation by 11.6% in the fourth quarter. State Street Corp now owns 1,673,420 shares of the transportation company’s stock worth $55,302,000 after buying an additional 174,137 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Knight Transportation during the fourth quarter worth approximately $671,000. Russell Investments Group Ltd. acquired a new position in Knight Transportation during the fourth quarter worth approximately $3,659,000. Renaissance Technologies LLC acquired a new position in Knight Transportation during the fourth quarter worth approximately $4,272,000. Finally, Dalton Greiner Hartman Maher & Co. boosted its position in Knight Transportation by 17.6% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 514,144 shares of the transportation company’s stock worth $16,118,000 after buying an additional 76,843 shares in the last quarter. 88.44% of the stock is currently owned by hedge funds and other institutional investors.
Knight Transportation Company Profile
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. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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