Royce & Associates LP Has $3,837,000 Position in Knight Transportation, Inc. (KNX)
Royce & Associates LP maintained its position in Knight Transportation, Inc. (NYSE:KNX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,400 shares of the transportation company’s stock at the end of the first quarter. Royce & Associates LP’s holdings in Knight Transportation were worth $3,837,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp increased its position in Knight Transportation by 11.6% in the fourth quarter. State Street Corp now owns 1,673,420 shares of the transportation company’s stock worth $55,302,000 after buying an additional 174,137 shares during the period. GSA Capital Partners LLP acquired a new position in Knight Transportation during the fourth quarter worth approximately $671,000. Pacad Investment Ltd. increased its position in Knight Transportation by 23.2% in the fourth quarter. Pacad Investment Ltd. now owns 14,500 shares of the transportation company’s stock worth $479,000 after buying an additional 2,734 shares during the period. Comerica Bank increased its position in Knight Transportation by 5.6% in the fourth quarter. Comerica Bank now owns 71,145 shares of the transportation company’s stock worth $2,444,000 after buying an additional 3,768 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in Knight Transportation during the fourth quarter worth approximately $3,659,000. 88.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Knight Transportation, Inc. (KNX) opened at 36.15 on Friday. The firm’s 50-day moving average is $33.84 and its 200 day moving average is $33.38. The stock has a market cap of $2.91 billion, a P/E ratio of 34.10 and a beta of 0.83. Knight Transportation, Inc. has a 52-week low of $24.78 and a 52-week high of $38.80.
Knight Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, April 26th. The transportation company reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Knight Transportation had a net margin of 7.61% and a return on equity of 11.16%. The business had revenue of $271.18 million for the quarter, compared to the consensus estimate of $276.27 million. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. Analysts forecast that Knight Transportation, Inc. will post $1.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 23rd. Shareholders of record on Friday, June 2nd will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.24 annualized dividend and a yield of 0.66%. Knight Transportation’s payout ratio is presently 22.86%.
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A number of research analysts have commented on the stock. BidaskClub raised shares of Knight Transportation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Stephens raised shares of Knight Transportation from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $36.00 to $42.00 in a research report on Monday, June 12th. Deutsche Bank AG reissued a “buy” rating and set a $39.00 target price (down previously from $40.00) on shares of Knight Transportation in a research report on Friday, April 28th. Bank of America Corporation raised shares of Knight Transportation from a “neutral” rating to a “buy” rating and raised their target price for the company from $37.00 to $41.00 in a research report on Tuesday, April 11th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $27.00 target price on shares of Knight Transportation in a research report on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.27.
In other Knight Transportation news, COO Kevin Quast sold 3,469 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $31.71, for a total value of $110,001.99. Following the transaction, the chief operating officer now directly owns 63,497 shares in the company, valued at $2,013,489.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP James E. Jr. Updike sold 2,800 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $35.75, for a total transaction of $100,100.00. Following the completion of the transaction, the vice president now owns 16,096 shares in the company, valued at $575,432. The disclosure for this sale can be found here. Insiders sold 48,844 shares of company stock worth $1,626,502 over the last quarter. Insiders own 9.90% of the company’s stock.
Knight Transportation Company Profile
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 operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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