Knight Transportation (KNX) is Downgraded by BofA/Merrill to Neutral

Knight Transportation (KNX) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 21, 2016.

Many Wall Street Analysts have commented on Knight Transportation. Company shares were Reiterated by Cowen on Apr 21, 2016 to “Market Perform”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .Knight Transportation was Downgraded by Stifel to ” Hold” on Apr 21, 2016. Knight Transportation was Downgraded by Raymond James to ” Outperform” on Apr 21, 2016.

On the company’s financial health, Knight Transportation reported $0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus of $0.29. The company had revenue of $272.10 million for the quarter, compared to analysts expectations of $279.41 million. The company’s revenue was down -6.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.36 EPS.

Knight Transportation opened for trading at $27.33 and hit $28.34 on the upside on Monday, eventually ending the session at $27.87, with a gain of 3.53% or 0.95 points. The heightened volatility saw the trading volume jump to 12,68,560 shares. Company has a market cap of $2,235 M.

In a different news, on May 12, 2016, G D Madden (director) sold 1,000 shares at $26.67 per share price. According to the SEC, 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.

Knight Transportation

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