Knight Transportation (KNX) is Downgraded by Credit Suisse to Neutral

Knight Transportation (KNX) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Knight Transportation. Knight Transportation was Downgraded by Avondale to ” Mkt Underperform” on Jun 23, 2016. Knight Transportation was Downgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016. 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 .

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 closed down -0.26 points or -0.96% at $26.73 with 8,83,474 shares getting traded on Tuesday. Post opening the session at $26.7, the shares hit an intraday low of $26.39 and an intraday high of $27 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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