Stock of The Day: Could Knight Transportation Go Down After Touching All Time High?

Stock of The Day: Could Knight Transportation Go Down After Touching All Time High?

The stock of Knight Transportation (NYSE:KNX) reached all time high today, Nov, 24 and still has $36.91 target or 5.00% above today’s $35.15 share price. This indicates more upside for the $2.81B company. This technical setup was reported by Barchart.com. If the $36.91 PT is reached, the company will be worth $140.50 million 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. The stock increased 0.72% or $0.25 on November 23, hitting $35.15. About 769,726 shares traded hands. Knight Transportation (NYSE:KNX) has risen 28.57% since April 22, 2016 and is uptrending. It has outperformed by 23.16% the S&P500.

Analysts await Knight Transportation (NYSE:KNX) to report earnings on January, 25. They expect $0.31 EPS, down 13.89% or $0.05 from last year’s $0.36 per share. KNX’s profit will be $24.78M for 28.35 P/E if the $0.31 EPS becomes a reality. After $0.29 actual EPS reported by Knight Transportation for the previous quarter, Wall Street now forecasts 6.90% EPS growth.

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. The rating was maintained by Citigroup with “Neutral” on Monday, July 11. Avondale downgraded Knight Transportation (NYSE:KNX) rating on Thursday, June 23. Avondale has “Market Underperform” rating and $21 price target. The firm has “Buy” rating given on Friday, September 11 by Bank of America. The rating was upgraded by Raymond James to “Strong Buy” on Friday, August 28. The stock of Knight Transportation (NYSE:KNX) has “Neutral” rating given on Friday, September 16 by Citigroup. Bank of America upgraded the stock to “Buy” rating in Monday, February 22 report. The firm has “Market Perform” rating given on Wednesday, January 13 by William Blair. UBS downgraded the stock to “Sell” rating in Thursday, October 22 report. The rating was maintained by RBC Capital Markets on Thursday, October 22 with “Sector Perform”. Avondale downgraded the shares of KNX in a report on Monday, March 14 to “Market Perform” rating.

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 2016 Q2. Its down 0.35, from 1.57 in 2016Q1. The ratio turned negative, 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.
Raymond James & has 0% invested in the company for 8,145 shares. Vanguard Incorporated last reported 4.79M shares in the company. Wasatch accumulated 2.68% or 6.60M shares. Legal And General Group Public Ltd Liability Com has invested 0% of its portfolio in Knight Transportation (NYSE:KNX). Financial Bank Of Montreal Can has 3,983 shares for 0% of their US portfolio. Cwm Lc last reported 0% of its portfolio in the stock. Carroll Financial Inc reported 200 shares or 0% of all its holdings. The New York-based Pinebridge Limited Partnership has invested 0.01% in Knight Transportation (NYSE:KNX). Fmr Limited has 0% invested in the company for 55,000 shares. Prudential Fincl Inc holds 149,182 shares or 0.01% of its portfolio. Moreover, Barclays Public Limited Co has 0% invested in Knight Transportation (NYSE:KNX) for 8,813 shares. Ladenburg Thalmann Finance Serv Inc has invested 0% of its portfolio in Knight Transportation (NYSE:KNX). Norris Perne And French Llp Mi reported 151,027 shares or 0.87% of all its holdings. Credit Suisse Ag last reported 0% of its portfolio in the stock. Neville Rodie And Shaw Inc accumulated 19,868 shares or 0.06% of the stock.

Insider Transactions: Since July 29, 2016, the stock had 0 insider buys, and 4 sales for $37.76 million net activity. Another trade for 500,000 shares valued at $14.43 million was made by KNIGHT KEVIN P on Wednesday, August 3. 300,000 shares were sold by KNIGHT GARY J, worth $8.51M on Monday, August 29. Yu Wayne sold $94,688 worth of stock.

More news for Knight Transportation (NYSE:KNX) were recently published by: Businesswire.com, which released: “Knight Transportation Reports Third Quarter 2016 Revenue and Earnings” on October 26, 2016. Equitiesfocus.com‘s article titled: “Knight Transportation, Inc. (NYSE:KNX) Short-Term Price Target At $28.71” and published on November 23, 2016 is yet another important article.

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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