The stock of Knight Transportation (NYSE:KNX) hit a new 52-week high and has $38.25 target or 7.00% above today’s $35.75 share price. The 7 months bullish chart indicates low risk for the $2.92B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $38.25 price target is reached, the company will be worth $204.40M 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 489,579 shares traded hands. Knight Transportation (NYSE:KNX) has risen 28.58% since April 28, 2016 and is uptrending. It has outperformed by 22.66% the S&P500.
Analysts await Knight Transportation (NYSE:KNX) to report earnings on January, 25. They expect $0.31 earnings per share, down 13.89% or $0.05 from last year’s $0.36 per share. KNX’s profit will be $25.32M for 28.83 P/E if the $0.31 EPS becomes a reality. After $0.29 actual earnings per share 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. $33 is the highest target while $8 is the lowest. The $26.33 average target is -26.35% below today’s ($35.75) stock price. Knight Transportation has been the topic of 41 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was upgraded by Raymond James to “Strong Buy” on Friday, August 28. The firm has “Market Underperform” rating given on Thursday, June 23 by Avondale. RBC Capital Markets maintained the stock with “Sector Perform” rating in Thursday, October 22 report. UBS downgraded Knight Transportation (NYSE:KNX) rating on Thursday, October 22. UBS has “Sell” rating and $27 price target. The firm has “Outperform” rating given on Thursday, April 21 by Macquarie Research. The company was upgraded on Tuesday, February 23 by Morgan Stanley. The firm earned “Overweight” rating on Monday, October 5 by Barclays Capital. On Friday, December 18 the stock rating was maintained by Cowen & Co with “Outperform”. Credit Suisse maintained it with “Outperform” rating and $8 target price in Thursday, April 21 report. The firm has “Buy” rating given on Friday, September 11 by Bank of America.
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 dropped, 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.
The Georgia-based Voya Invest Mngmt Lc has invested 0.06% in Knight Transportation (NYSE:KNX). Glenmede Trust Na last reported 9,945 shares in the company. The Texas-based Texas Permanent School Fund has invested 0.02% in Knight Transportation (NYSE:KNX). Parametric Portfolio Assocs Ltd Liability Corporation last reported 0.01% of its portfolio in the stock. Moreover, Amalgamated Bancshares has 0.01% invested in Knight Transportation (NYSE:KNX) for 7,694 shares. Granite Investment Limited Company owns 30,305 shares or 0.06% of their US portfolio. Vanguard Gp has invested 0.01% of its portfolio in Knight Transportation (NYSE:KNX). Fmr Ltd Limited Liability Company has 0% invested in the company for 55,000 shares. Harvey Investment Com Limited Liability Company, a Kentucky-based fund reported 481,789 shares. The Georgia-based Invesco Ltd has invested 0.02% in Knight Transportation (NYSE:KNX). Bessemer Grp Incorporated has 1,705 shares for 0% of their US portfolio. Carroll Assocs holds 0% of its portfolio in Knight Transportation (NYSE:KNX) for 200 shares. Blackrock holds 5,196 shares or 0% of its portfolio. Tci Wealth Advsrs Incorporated has 743 shares for 0.01% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) owns 2,280 shares or 0% of their US portfolio.
Insider Transactions: Since July 29, 2016, the stock had 0 insider purchases, and 4 selling transactions for $37.76 million net activity. KNIGHT KEVIN P had sold 500,000 shares worth $14.72 million on Friday, July 29. Yu Wayne had sold 3,200 shares worth $94,688 on Friday, August 5. On Monday, August 29 the insider KNIGHT GARY J sold $8.51 million.
More important recent Knight Transportation (NYSE:KNX) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: Knight Transportation, Fluor and Mueller Industries” on November 28, 2016, also Nasdaq.com published article titled: “Knight Transportation, Inc. (KNX) Ex-Dividend Date Scheduled for November 30, 2016”, Thestreet.com published: “Knight Transportation (KNX) Stock Downgraded at Credit Suisse” on July 07, 2016. More interesting news about Knight Transportation (NYSE:KNX) was released by: Seekingalpha.com and their article: “Knight Transportation (KNX) Q3 2016 Results – Earnings Call Transcript” with publication date: October 27, 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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