Finally Time To Sell Shares of Knight Transportation (NYSE:KNX)? Bank of America (Merrill Lynch) Has Downgraded The Company With a $29.00 Target


Knight Transportation (NYSE:KNX) Receives a Downgrade

Bank of America (Merrill Lynch) lowered shares of Knight Transportation (NYSE:KNX) from their old rating of a “Buy” to a “Neutral” in a recent research report issued to investors and clients on 2 December. They presently have a $29.00 price target on the stock.

From a total of 17 analysts covering Knight Transportation (NYSE:KNX) stock, 13 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is $35 while the lowest target price is $23. The mean of all analyst targets is $30 with a 12.06% above today’s ($26.37) stock price. Knight Transportation was the topic of 13 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Cowen & Co maintained shares on October 22 with “Outperform” rating. Evercore initiated shares with “Buy” rating and $32 target share price in a report from an August 19. RBC Capital Markets maintained KNX stock in a recent report from October 22 with “Sector Perform” rating. Finally, Bank of America upgraded the stock to “Buy” rating in a report issued on a September 11.

The stock increased 0.23% or $0.06 on December 1, striking $26.37. Approximately shares of stock traded hands. Knight Transportation (NYSE:KNX) has declined 11.48% since April 29, 2015 and is downtrending. It has underperformed by 11.28% the S&P500.

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 has a market cap of $2.13 billion. The Firm operates in two divisions: Trucking and Logistics. It has 18.11 P/E ratio. Trucking segment is comprised of three operating units: dry van truckload ; temperature-controlled truckload (Refrigerated), and drayage services (Drayage).

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.” Get a free copy of the Zacks research report on Knight Transportation (KNX).