According to Zacks, “KNIGHT TRANSPORTATION INC. is a short to medium-haul, dry van truckload carrier operating in the western region of the United States. Co. transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers and imported and exported commodities. “
A number of other brokerages also recently issued reports on KNX. Deutsche Bank AG boosted their price target on Knight Transportation from $27.00 to $29.00 and gave the company a hold rating in a report on Friday, July 29th. Citigroup Inc. boosted their price target on Knight Transportation from $27.00 to $32.00 and gave the company a neutral rating in a report on Friday, September 16th. Macquarie downgraded Knight Transportation from an outperform rating to a neutral rating and reduced their price target for the company from $29.00 to $27.00 in a report on Thursday, July 28th. Barclays PLC boosted their price target on Knight Transportation from $26.00 to $27.00 and gave the company an equal weight rating in a report on Monday, September 12th. Finally, Bank of America Corp. restated a neutral rating and set a $29.00 price target (up previously from $28.00) on shares of Knight Transportation in a report on Tuesday, June 21st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Knight Transportation has a consensus rating of Hold and a consensus price target of $29.42.
Shares of Knight Transportation (NYSE:KNX) opened at 28.90 on Tuesday. Knight Transportation has a 52 week low of $20.56 and a 52 week high of $30.38. The stock has a market capitalization of $2.31 billion, a P/E ratio of 22.04 and a beta of 0.83. The stock has a 50 day moving average price of $28.57 and a 200 day moving average price of $27.27.
Knight Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. Knight Transportation had a return on equity of 14.55% and a net margin of 9.37%. The company had revenue of $276.30 million for the quarter, compared to the consensus estimate of $283.13 million. During the same quarter in the previous year, the business earned $0.39 EPS. Knight Transportation’s revenue was down 8.4% compared to the same quarter last year. On average, equities research analysts expect that Knight Transportation will post $1.18 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 31st. This represents a $0.24 dividend on an annualized basis and a yield of 0.83%. Knight Transportation’s dividend payout ratio is presently 18.18%.
In other Knight Transportation news, insider Kevin P. Knight sold 500,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $29.44, for a total transaction of $14,720,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Wayne Yu sold 3,200 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $29.59, for a total transaction of $94,688.00. Following the sale, the vice president now owns 8,279 shares of the company’s stock, valued at $244,975.61. The disclosure for this sale can be found here. Company insiders own 11.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in 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 period. Citadel Advisors LLC raised its stake in Knight Transportation by 164.6% in the second quarter. Citadel Advisors LLC now owns 1,098,005 shares of the company’s stock valued at $29,185,000 after buying an additional 683,038 shares during the period. Eagle Asset Management Inc. bought a new stake in Knight Transportation during the second quarter valued at approximately $13,068,000. TimesSquare Capital Management LLC raised its stake in Knight Transportation by 27.1% in the first quarter. TimesSquare Capital Management LLC now owns 2,028,320 shares of the company’s stock valued at $53,041,000 after buying an additional 432,720 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in 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 period. Institutional investors and hedge funds own 91.16% of the company’s stock.
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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