Macquarie Downgrades Knight Transportation to Neutral

Brokerage firm Macquarie Downgrades its rating on Knight Transportation(NYSE:KNX). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Macquarie was issued on Jul 28, 2016.

In a different note, On Jul 13, 2016, Citigroup said it Maintains its rating on Knight Transportation. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 11, 2016, Citigroup said it Maintains its rating on Knight Transportation. In the research note, the firm Raises the price-target to $25.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 7, 2016, Credit Suisse said it Downgrades its rating on Knight Transportation. In the research note, the firm Lowers the price-target to $28.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jun 23, 2016, Avondale Partners said it Downgrades its rating on Knight Transportation. In the research note, the firm Lowers the price-target to $27.00 per share. The shares have been rated ‘Market Underperform’ by the firm. On Jun 21, 2016, Bank of America said it Downgrades its rating on Knight Transportation. The shares have been rated ‘Neutral’ by the firm.

Knight Transportation (KNX) made into the market gainers list on Thursdays trading session with the shares advancing 0.42% or 0.12 points. Due to strong positive momentum, the stock ended at $28.74, which is also near the day’s high of $29.09. The stock began the session at $28.71 and the volume stood at 11,67,511 shares. The 52-week high of the shares is $30.38 and the 52 week low is $20.56. The company has a current market capitalization of $2,305 M and it has 8,02,09,489 shares in outstanding.

Knight Transportation(KNX) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $276.32M. Analysts had an estimated revenue of $282.31M. Earnings per share were $0.31. Analysts had estimated an EPS of $0.30.

Several Insider Transactions has been reported to the SEC. On May 12, 2016, G D Madden (director) sold 1,000 shares at $26.67 per share price.Also, On Apr 26, 2016, Gary J Knight (Vice Chairman) sold 15,000 shares at $27.00 per share price.On Mar 15, 2016, Kathryn L Munro (director) sold 1,000 shares at $25.86 per share price, according to the Form-4 filing with the securities and exchange commission.

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 4173 tractors.

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