Knight Transportation (KNX) : Traders are bullish on Knight Transportation (KNX) as it has outperformed the S&P 500 by a wide margin of 6.93% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.22%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.15% in the last 1 week, and is up 10.52% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 6.28% and the 50-Day Moving Average is 10.98%. Knight Transportation Inc. is up 12.53% in the last 3-month period. Year-to-Date the stock performance stands at 23.69%.
Knight Transportation (NYSE:KNX): stock turned positive on Friday. Though the stock opened at $29.63, the bulls momentum made the stock top out at $30.16 level for the day. The stock recorded a low of $29.53 and closed the trading day at $29.83, in the green by 0.17%. The total traded volume for the day was 2,028,585. The stock had closed at $29.78 in the previous days trading.
Also, Equity Analysts at the Brokerage Firm, Deutsche Bank, maintains their rating on the shares of Knight Transportation (NYSE:KNX). As per the latest research report, the brokerage house raises the price target to $29 per share from a prior target of $27. The rating by the firm was issued on July 29, 2016.
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 in two segments: Trucking and Logistics. Trucking segment is comprised of three operating units: dry van truckload (Dry Van); temperature-controlled truckload (Refrigerated), and drayage services (Drayage). Trucking segment provides truckload transportation, including dedicated services of various products, goods and materials. Logistics segment consists of two operating units: freight brokerage services (Brokerage) and rail intermodal (Intermodal). The Brokerage and Intermodal operating units of Logistics segment provide a multitude of shipment solutions, including additional sources of truckload capacity and alternative transportation modes. As of 2014, Trucking segment operated an average of 4,173 tractors.