Knight Transportation, Inc. (KNX) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Knight Transportation, Inc. (NYSE:KNX) from a hold rating to a buy rating in a research note released on Wednesday.

Several other brokerages have also issued reports on KNX. Zacks Investment Research raised Knight Transportation from a sell rating to a hold rating and set a $41.00 price objective on the stock in a report on Wednesday, July 5th. Bank of America Corporation reaffirmed a buy rating and set a $43.00 price objective (up previously from $41.00) on shares of Knight Transportation in a report on Monday, July 10th. Deutsche Bank AG set a $45.00 price objective on Knight Transportation and gave the stock a buy rating in a report on Monday, July 31st. Stephens raised Knight Transportation from an equal weight rating to an overweight rating and raised their price objective for the stock from $36.00 to $42.00 in a report on Monday, June 12th. Finally, UBS AG raised Knight Transportation from a neutral rating to a buy rating and raised their price objective for the stock from $35.00 to $43.00 in a report on Monday, April 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $38.13.

Shares of Knight Transportation (NYSE KNX) traded up 1.64% during mid-day trading on Wednesday, reaching $37.20. The company’s stock had a trading volume of 1,497,881 shares. The company’s 50-day moving average is $36.28 and its 200-day moving average is $33.91. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 38.35 and a beta of 0.86. Knight Transportation has a 52 week low of $26.85 and a 52 week high of $38.80.

Knight Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $273.20 million for the quarter, compared to analyst estimates of $283.88 million. Knight Transportation had a return on equity of 10.39% and a net margin of 7.03%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.31 earnings per share. Equities analysts predict that Knight Transportation will post $0.99 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Wednesday, August 30th. Knight Transportation’s dividend payout ratio is currently 25.00%.

In related news, COO Kevin Quast sold 3,469 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $31.71, for a total value of $110,001.99. Following the completion of the sale, the chief operating officer now owns 63,497 shares in the company, valued at $2,013,489.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director G D. Madden sold 1,875 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $36.52, for a total transaction of $68,475.00. Following the completion of the sale, the director now owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,644 shares of company stock worth $678,577. Corporate insiders own 9.90% of the company’s stock.

A number of large investors have recently made changes to their positions in KNX. Eaton Vance Management increased its stake in shares of Knight Transportation by 0.6% in the second quarter. Eaton Vance Management now owns 8,052 shares of the transportation company’s stock worth $298,000 after buying an additional 49 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Knight Transportation by 0.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,069 shares of the transportation company’s stock worth $373,000 after buying an additional 85 shares during the last quarter. US Bancorp DE increased its stake in shares of Knight Transportation by 0.3% in the second quarter. US Bancorp DE now owns 29,263 shares of the transportation company’s stock worth $1,084,000 after buying an additional 92 shares during the last quarter. Granite Investment Partners LLC increased its stake in shares of Knight Transportation by 0.4% in the second quarter. Granite Investment Partners LLC now owns 23,751 shares of the transportation company’s stock worth $880,000 after buying an additional 92 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Knight Transportation by 0.3% in the second quarter. Arizona State Retirement System now owns 34,810 shares of the transportation company’s stock worth $1,290,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.

Analyst Recommendations for Knight Transportation (NYSE:KNX)

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