Confidence in Knight Transportation (NYSE:KNX) Shares by BofA Merrill Fall.

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Knight Transportation (NYSE:KNX) Receives a Downgrade

BofA Merrill lowered the rating for shares of Knight Transportation (NYSE:KNX) to aNeutral from a Buy. This important rating change was revealed to investors in a recent report earlier today.

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 15.20% above today’s ($25.65) 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.

Approximately 494,646 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 $2.08 billion. The Firm operates in two divisions: Trucking and Logistics. It has 17.62 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).

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