Knight Transportation (NYSE:KNX) Receives a Downgrade
In an analyst note announced today, Longbow lowered shares of Knight Transportation (NYSE:KNX) to a “Neutral” rating from the previous “Buy” rating.
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 $29.94 with a 18.34% above today’s ($24.81) stock price. Knight Transportation was the topic of 14 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Bank of America downgraded shares on December 2 to “Neutral” rating. Evercore initiated shares with “Buy” rating and $32 target share price in a report from an August 19. UBS downgraded KNX stock in a recent report from October 22 to “Sell” rating. Finally, Barclays Capital maintained the stock with “Overweight” rating in a report issued on an October 5.
The stock closed the day at $24.81 during the previous session. It is down 16.24% since May 1, 2015 and is downtrending. It has underperformed by 13.46% 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 $2.01 billion. The Firm operates in two divisions: Trucking and Logistics. It has 17.04 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).