John Larkin, Analyst at Stifel, Nicolaus & Co., says Knight Transportation (KNX) is one of the transportation stocks he is currently recommending. He says the company is well-run and has always been thought of as a growth company.
“They sort of lost their way in terms of being able to provide growth during the recession years and the years immediately after, but really regained their momentum about a year and half ago and have continued that momentum,” Larkin says.
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Knight’s improved performance has been a function of some smart acquisitions, Larkin says. The company has redoubled its efforts focused on growing its brokerage business more quickly, and Larkin says those initiatives seem to be paying off.
“We would argue that Wall Street is sort of overlooking all of those favorable developments. The company also has made a transition at the CEO position,” Larkin says. “Kevin Knight, who is basically the Founder of the company, will retain his Chairman’s role, but has turned over the CEO responsibilities to his long-time right-hand man, Dave Jackson, who I think is terrific and is doing a great job running the business. He is growing the company in an industry where very few companies have been able to grow.”
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