Stock Worth Watching: Time to Reconsider Knight Transportation After Touching All-Time High?

Stock Worth Watching: Time to Reconsider Knight Transportation After Touching All Time High?

The stock of Knight Transportation (NYSE:KNX) reached all time high today, Nov, 15 and still has $54.86 target or 59.00% above today’s $34.50 share price. This indicates more upside for the $2.83 billion company. This technical setup was reported by Barchart.com. If the $54.86 PT is reached, the company will be worth $1.67B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 130,743 shares traded hands. Knight Transportation (NYSE:KNX) has risen 32.56% since April 13, 2016 and is uptrending. It has outperformed by 28.63% the S&P500.

Knight Transportation (NYSE:KNX) Ratings Coverage

Out of 17 analysts covering Knight Transportation (NYSE:KNX), 5 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 29% are positive. $33 is the highest target while $8 is the lowest. The $26.33 average target is -23.68% below today’s ($34.5) stock price. Knight Transportation has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm earned “Sector Perform” rating on Thursday, October 22 by RBC Capital Markets. The rating was maintained by Citigroup with “Neutral” on Monday, July 11. The stock of Knight Transportation (NYSE:KNX) has “Outperform” rating given on Thursday, April 21 by Raymond James. The stock of Knight Transportation (NYSE:KNX) earned “Overweight” rating by Morgan Stanley on Tuesday, February 23. The stock has “Market Underperform” rating given by Avondale on Thursday, June 23. The firm has “Neutral” rating by Bank of America given on Tuesday, June 21. Bank of America downgraded the shares of KNX in a report on Wednesday, December 2 to “Neutral” rating. The stock of Knight Transportation (NYSE:KNX) earned “Market Perform” rating by Cowen & Co on Monday, March 21. Bank of America upgraded Knight Transportation (NYSE:KNX) on Friday, September 11 to “Buy” rating. The stock of Knight Transportation (NYSE:KNX) earned “Neutral” rating by Longbow on Friday, December 4.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 1.57 in 2016 Q2. Its up 0.44, from 1.13 in 2016Q1. The ratio improved, as 16 funds sold all Knight Transportation shares owned while 40 reduced positions. 16 funds bought stakes while 72 increased positions. They now own 69.89 million shares or 0.04% more from 69.86 million shares in 2016Q1.
Timpani Cap Mgmt Lc last reported 0.39% of its portfolio in the stock. Ranger Invest Management Lp owns 919,051 shares or 1.51% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank), a Switzerland-based fund reported 2,280 shares. Goldman Sachs Gru owns 384,995 shares or 0% of their US portfolio. Td Cap Management Limited Com has invested 0% of its portfolio in Knight Transportation (NYSE:KNX). Serv Automobile Association holds 0% or 23,290 shares in its portfolio. The Massachusetts-based Eaton Vance Management has invested 0% in Knight Transportation (NYSE:KNX). Blackrock holds 0% of its portfolio in Knight Transportation (NYSE:KNX) for 5,196 shares. Teacher Retirement Systems Of Texas holds 0% or 9,061 shares in its portfolio. Blackrock Investment Ltd Liability, a New Jersey-based fund reported 277,948 shares. Pinebridge Investments Limited Partnership owns 7,731 shares or 0.01% of their US portfolio. Everpoint Asset Limited Com has 190,200 shares for 0.1% of their US portfolio. Royal National Bank Of Canada has 0.01% invested in the company for 826,152 shares. Tiverton Asset Mgmt Ltd Liability accumulated 0.78% or 280,364 shares. American Intl Grp, a New York-based fund reported 48,822 shares.

Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 4 selling transactions for $37.76 million net activity. 3,200 shares were sold by Yu Wayne, worth $94,688 on Friday, August 5. The insider KNIGHT KEVIN P sold $14.72M. On Monday, August 29 the insider KNIGHT GARY J sold $8.51 million.

Another recent and important Knight Transportation (NYSE:KNX) news was published by Businesswire.com which published an article titled: “Knight Transportation, Inc. Announces Participation in Upcoming Conferences” on October 18, 2016.

KNX Company Profile

Knight Transportation, Inc., incorporated on August 31, 1989, is a well-known 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 Firm operates through two divisions: Trucking and Logistics. The Firm provides a range of truckload and logistics services through its nationwide network of service centers, truckload tractor fleets and its contractual access to third-party capacity providers. The Firm operates primarily in the United States with minor activities in Canada and Mexico.

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