After Merrill Lynch and UBS gave Knight Transportation (NYSE: KNX) a Buy rating last month, the company received another Buy, this time from Morgan Stanley. Analyst Ravi Shanker maintained a Buy rating on Knight Transportation today and set a price target of $45.00. The company’s shares closed last Monday at $30.58.
According to TipRanks.com, Shanker is a 4-star analyst with an average return of 4.5% and a 61.8% success rate. Shanker covers the Services sector, focusing on stocks such as Expeditors International, Echo Global Logistics, and Kansas City Southern.
Knight Transportation has an analyst consensus of Strong Buy, with a price target consensus of $40.63, which is a 34.7% upside from current levels. In a report issued on March 13, Merrill Lynch also maintained a Buy rating on the stock with a $34.00 price target.
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Based on Knight Transportation’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $67.44 million. In comparison, last year the company had a net profit of $152 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of KNX in relation to earlier this year.
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Knight-Swift Transportation Holdings, Inc. engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
