Analysis: Knight Transportation (NYSE:KNX) Stock Target Has Just Been Increased Today
In a comprehensive report revealed to clients by Stephens on 18 December, the firm, Knight Transportation (NYSE:KNX), had their Estimated Target Price cut to $30.00. Analusts at present have a solid Overweight rating on the stock.
From a total of 17 analysts covering Knight Transportation (NYSE:KNX) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN 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 $29.39 with a 27.26% above today’s ($23.07) stock price. Knight Transportation was the topic of 15 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Longbow downgraded shares on December 4 to “Neutral” rating. Barclays Capital maintained shares with “Overweight” rating and $26 target share price in a report from an October 5. Cowen & Co maintained KNX stock in a recent report from October 22 with “Outperform” rating. Evercore initiated the rating on August 19. Evercore has a “Buy” rating and a $32 price target on shares. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on an October 22.
The stock decreased 5.88% or $1.44 on December 18, striking $23.07. Approximately 3.85 million shares of stock traded hands or 266.67% up from the average. Knight Transportation (NYSE:KNX) has declined 17.39% since May 15, 2015 and is downtrending. It has underperformed by 13.58% the S&P500.
The overall sentiment of institutions has decreased to 1 in Q2 2015. Its down 0.05, from 1.05 in 2015Q2. The ratio dropped, as 41 institutions have sold all the shares of Knight Transportation that they owned while 58 funds have taken shares off the table. 20 funds have purchased shares for the first time while 79 added to their positions. These institutions now hold 64.45 million shares or 0.95% less than the 65.07 million shares they owned in 2015Q2.
The Fund Sib Llc currently is holding shares equating to 6.76% of its total portfolio in Knight Transportation representing a total of 345,622 shares. Another fund,Dudley & Shanley Llc, is holding a total of 1.01 million shares equating to 5.35% of their holdings. Additionally, Grandeur Peak Global Advisors Llc has a 543,645 share stake in Knight Transportation which represents 2.91% of their total portfolio. The Fund, Next Century Growth Investors Llc, based out of Minnesota, has also built up a stake in the stock, which represents a total of 2.62% of their total portfolio. Finally Harvey Investment Co Llc, a fund which is based in the state of Kentucky reported a total holdings of 412,858 shares.
Insider activity is a very important aspect to track on any stock. Going back to February 25, 2015, shareholders of Knight Transportation have witnessed 0 insider buys, and a total of 3 insider sales equating to a net activity of approximately $14.52 million . Knight Kevin P sold 500,000 shares worth approximately $13.90 million. Knight Gary J sold 15,973 shares worth approximately $437,484. Yu Wayne sold 1,403 shares worth approximately $46,005.
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 $1.99 billion. The Firm operates in two divisions: Trucking and Logistics. It has 15.85 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.”