Knight Transportation (KNX) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Jul 28, 2016.
Many Wall Street Analysts have commented on Knight Transportation. Knight Transportation was Downgraded by Credit Suisse to ” Neutral” on Jul 7, 2016. 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.
On the company’s financial health, Knight Transportation reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.30. The company had revenue of $276.30 million for the quarter, compared to analysts expectations of $279.95 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.39 EPS.
Knight Transportation opened for trading at $28.14 and hit $30.38 on the upside on Thursday, eventually ending the session at $29.78, with a gain of 3.30% or 0.95 points. The heightened volatility saw the trading volume jump to 24,13,489 shares. Company has a market cap of $2,389 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.