Zacks Investment Research downgraded shares of Knight Transportation, Inc. (NYSE:KNX) from a buy rating to a hold rating in a research report report published on Saturday.

According to Zacks, “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. “

Other equities research analysts have also recently issued reports about the stock. UBS AG raised shares of Knight Transportation from a neutral rating to a buy rating and raised their price target for the stock from $35.00 to $43.00 in a research note on Monday, April 24th. BidaskClub cut shares of Knight Transportation from a strong-buy rating to a buy rating in a research note on Wednesday, July 12th. Bank of America Corp reaffirmed a buy rating and set a $43.00 price target (up from $41.00) on shares of Knight Transportation in a research note on Monday, July 10th. Stephens raised shares of Knight Transportation from an equal weight rating to an overweight rating and raised their price target for the stock from $36.00 to $42.00 in a research note on Monday, June 12th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $27.00 price target on shares of Knight Transportation in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus target price of $38.13.

Knight Transportation (NYSE KNX) opened at 35.30 on Friday. Knight Transportation has a 12-month low of $26.85 and a 12-month high of $38.80. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 36.39 and a beta of 0.87. The firm has a 50-day moving average of $36.17 and a 200 day moving average of $33.75.

Knight Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Knight Transportation had a net margin of 7.03% and a return on equity of 10.39%. The company had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Knight Transportation will post $1.00 EPS for the current year.

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In other Knight Transportation news, VP James E. Jr. Updike sold 2,800 shares of Knight Transportation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $35.75, for a total transaction of $100,100.00. Following the transaction, the vice president now directly owns 16,096 shares of the company’s stock, valued at $575,432. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman Gary J. Knight sold 12,500 shares of Knight Transportation stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $33.03, for a total transaction of $412,875.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,269 shares of company stock worth $1,022,977. 9.90% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC boosted its position in shares of Knight Transportation by 33.5% in the first quarter. LS Investment Advisors LLC now owns 3,363 shares of the transportation company’s stock worth $105,000 after buying an additional 844 shares during the period. FNY Managed Accounts LLC acquired a new position in shares of Knight Transportation during the first quarter worth $122,000. Huntington National Bank boosted its position in shares of Knight Transportation by 17.4% in the first quarter. Huntington National Bank now owns 3,976 shares of the transportation company’s stock worth $125,000 after buying an additional 590 shares during the period. Victory Capital Management Inc. boosted its position in shares of Knight Transportation by 43.6% in the first quarter. Victory Capital Management Inc. now owns 4,578 shares of the transportation company’s stock worth $144,000 after buying an additional 1,390 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Knight Transportation during the first quarter worth $181,000. 87.94% of the stock is currently owned by hedge funds and other institutional investors.

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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