Downgrade Alert for Knight Transportation (KNX)
Knight Transportation (NYSE:KNX) was downgraded from Buy to Neutral at BofA/Merrill today. The stock closed yesterday at $26.66 on volume of 2.9 million shares, above average daily volume of 1.1 million.
Knight Transportation (NYSE:KNX) has potential upside of 12.5% based on a current price of $26.66 and analysts' consensus price target of $30.00. Knight Transportation shares have support at the 50-day moving average (MA) of $25.94 and additional support at the 200-day MA of $25.55.
Over the past year, Knight Transportation has traded in a range of $20.56 to $30.79 and closed yesterday at $26.66, 30% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.
Knight Transportation, Inc. is a short-to-medium haul, dry van truckload carrier. The Company transports general commodities, including consumer goods, packaged foodstuffs, paper products, beverage containers, and imported and exported commodities. The Company operates throughout the United States.
SmarTrend is monitoring the recent change of momentum in Knight Transportation. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Knight Transportation in search of a potential trend change.
Keywords: analyst upgrades/downgrades knight transportation