Knight Transportation, Inc. (NYSE:KNX) – Research analysts at KeyCorp raised their Q2 2017 earnings per share (EPS) estimates for Knight Transportation in a report issued on Thursday. KeyCorp analyst T. Fowler now forecasts that the transportation company will post earnings of $0.27 per share for the quarter, up from their prior estimate of $0.25.
Knight Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. Knight Transportation had a net margin of 7.61% and a return on equity of 11.16%. The company had revenue of $271.18 million during the quarter, compared to the consensus estimate of $276.27 million. During the same quarter in the prior year, the firm posted $0.28 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This piece was first posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/08/03/keycorp-equities-analysts-lift-earnings-estimates-for-knight-transportation-inc-nyseknx-updated-updated.html.
Several other equities analysts have also recently commented on the stock. Deutsche Bank AG raised shares of Knight Transportation from a “hold” rating to a “buy” rating and boosted their price objective for the company from $33.00 to $40.00 in a research note on Tuesday, April 11th. Bank of America Corporation raised shares of Knight Transportation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $41.00 in a research note on Tuesday, April 11th. Vertical Research initiated coverage on shares of Knight Transportation in a research note on Thursday, April 13th. They issued a “buy” rating and a $48.00 price target for the company. Credit Suisse Group reissued an “outperform” rating and issued a $35.00 price target (up previously from $32.00) on shares of Knight Transportation in a research note on Friday, April 14th. Finally, Barclays PLC reissued an “underweight” rating and issued a $30.00 price target (down previously from $34.00) on shares of Knight Transportation in a research note on Friday, March 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $37.06.
Shares of Knight Transportation (KNX) opened at 36.10 on Monday. The stock’s 50 day moving average is $34.46 and its 200-day moving average is $33.41. Knight Transportation has a one year low of $26.85 and a one year high of $38.80. The company has a market cap of $2.90 billion, a P/E ratio of 34.06 and a beta of 0.87.
The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Investors of record on Friday, June 2nd were issued 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 yield of 0.66%. Knight Transportation’s dividend payout ratio is currently 22.86%.
In related news, VP James E. Jr. Updike sold 2,800 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total transaction of $100,100.00. Following the completion of the sale, the vice president now directly owns 16,096 shares in the company, valued at approximately $575,432. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Kevin Quast sold 3,469 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $31.71, for a total transaction of $110,001.99. Following the sale, the chief operating officer now owns 63,497 shares of the company’s stock, valued at $2,013,489.87. The disclosure for this sale can be found here. Insiders have sold a total of 48,844 shares of company stock valued at $1,626,502 over the last quarter. 9.90% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of KNX. Municipal Employees Retirement System of Michigan raised its stake in Knight Transportation by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 15,180 shares of the transportation company’s stock worth $476,000 after buying an additional 150 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Knight Transportation by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 7,360 shares of the transportation company’s stock worth $230,000 after buying an additional 170 shares in the last quarter. Flinton Capital Management LLC raised its stake in Knight Transportation by 0.3% in the first quarter. Flinton Capital Management LLC now owns 128,080 shares of the transportation company’s stock worth $4,015,000 after buying an additional 368 shares in the last quarter. Granite Investment Partners LLC raised its stake in Knight Transportation by 1.6% in the first quarter. Granite Investment Partners LLC now owns 23,659 shares of the transportation company’s stock worth $742,000 after buying an additional 369 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Knight Transportation by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the transportation company’s stock worth $853,000 after buying an additional 500 shares in the last quarter. Institutional investors own 88.44% 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.
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