The stock of Knight Transportation (NYSE:KNX) hit a new 52-week high and has $43.34 target or 24.00% above today’s $34.95 share price. The 7 months bullish chart indicates low risk for the $2.80B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $43.34 price target is reached, the company will be worth $672.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 445,148 shares traded hands. Knight Transportation (NYSE:KNX) has risen 30.06% since April 19, 2016 and is uptrending. It has outperformed by 26.20% 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. Knight Transportation has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Citigroup maintained Knight Transportation (NYSE:KNX) rating on Monday, July 11. Citigroup has “Neutral” rating and $27 price target. The company was maintained on Thursday, October 22 by Cowen & Co. The firm earned “Market Perform” rating on Wednesday, January 13 by William Blair. The stock has “Market Perform” rating given by Avondale on Monday, March 14. The firm earned “Overweight” rating on Tuesday, February 23 by Morgan Stanley. The rating was upgraded by Bank of America on Monday, February 22 to “Buy”. Macquarie Research maintained it with “Outperform” rating and $29 target price in Thursday, April 21 report. Barclays Capital maintained Knight Transportation (NYSE:KNX) on Monday, October 5 with “Overweight” rating. The company was upgraded on Friday, August 28 by Raymond James. The firm earned “Sell” rating on Thursday, October 22 by UBS.
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 decreased to 1.22 in Q2 2016. Its down 0.35, from 1.57 in 2016Q1. The ratio fall, 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.
Blackrock Fund Advsr holds 4.05M shares or 0.02% of its portfolio. Nationwide Fund Advsr last reported 80,667 shares in the company. Fifth Third Bank & Trust last reported 0% of its portfolio in the stock. Strs Ohio has 0% invested in the company for 1,700 shares. Cubist Systematic Strategies Ltd Llc owns 195 shares or 0% of their US portfolio. Teachers Retirement System Of The State Of Kentucky, a Kentucky-based fund reported 71,339 shares. Bessemer Group accumulated 1,705 shares or 0% of the stock. Cipher Lp last reported 50,951 shares in the company. First Mercantile Tru accumulated 0.05% or 14,700 shares. Jpmorgan Chase & accumulated 2.37 million shares or 0.02% of the stock. The New York-based Sib Limited Liability Corporation has invested 7.85% in Knight Transportation (NYSE:KNX). Principal Fincl Gp Incorporated last reported 0.02% of its portfolio in the stock. Voya Management Ltd Liability accumulated 860,884 shares or 0.06% of the stock. Scopus Asset Mgmt L P has invested 0.07% of its portfolio in Knight Transportation (NYSE:KNX). Bancorp Of Mellon has invested 0.04% of its portfolio in Knight Transportation (NYSE:KNX).
Insider Transactions: Since July 29, 2016, the stock had 0 buys, and 4 selling transactions for $37.76 million net activity. 300,000 Knight Transportation (NYSE:KNX) shares with value of $8.51M were sold by KNIGHT GARY J. Yu Wayne had sold 3,200 shares worth $94,688 on Friday, August 5. On Wednesday, August 3 KNIGHT KEVIN P sold $14.43M worth of the stock or 500,000 shares.
Another recent and important Knight Transportation (NYSE:KNX) news was published by Businesswire.com which published an article titled: “Knight Transportation Reports Third Quarter 2016 Revenue and Earnings” on October 26, 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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