Knight Transportation Inc. (NYSE: KNX) had its price target boosted by equities researchers at Barclays PLC from $26.00 to $27.00.Barclays PLC currently has a rating of Equal Weight on the shares. A number of other analysts have spoken on the company recently, and the company has earned a consensus one-year price target of $27.81, lower than the opening price of $27.97, a difference of 9.70 percent. Knight Transportation Inc. stock has a 52-week high of $30.38.
U.S. stocks finished higher on Monday as investor fears for an interest rate hike subsided after Federal Reserve Board Governor Lael Brainard urged caution about removing monetary stimulus too quickly.
The Dow Jones Industrial Average DJIA, +1.32% surged 239.62 points, or 1.3%, to close at 18,325.07, after jumping as high as 273 points.
The S&P 500 SPX, +1.47% rose 31.23 points, or 1.5%, to finish at 2,159.04, with all sectors closing in positive territory.
Meanwhile, the Nasdaq Composite Index COMP, +1.68% finished up 85.98 points, or 1.7%, at 5,211.89, propelled by a rally in biotechnology shares
Share prices sometimes get a bounce to the upside when analysts inititate coverage.
Shares of Knight Transportation Inc. (NYSE: KNX) opened at $27.97 yesterday and traded in a range between, $27.86 and $28.67, and last traded at $28.67, which represents a change of $ 0.67 over the previous closing price.
Knight Transportation Inc. (NYSE: KNX) currently has a market cap of 2.29B
The stocks average daily volume is 981,767 shares out of a total float 58,572,000 of and some 790,292 shares crossed the trading desk yesterday, 17 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these retain substantial teams of analysts that research thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind Knight Transportation Inc. (NYSE: KNX) now has a 50-day MA is $28.66 and 200-day MA is $26.90, and it has traded in a 52-week range between $20.56 – 30.38 and today’s last price is -0.06 percent off the 52 week high of $30.38.
Earnings growth is an important factor to look at when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.
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