Jefferies Reiterates Hold on Knight Transportation (KNX)

Jefferies is out with its report today on Knight Transportation KNX, reiterating Hold. In a note to clients, Jefferies writes, "Wednesday morning, KNX posted continuing 4Q EPS of $0.19 vs. consensus of $0.20 (5% miss) and our $0.21 estimate. Unlike in the rail reports earlier this week, fuel and wages were not the biggest headwinds — compared to our model, KNX's fuel surcharge and fuel costs were both better than expected (albeit partly offset by higher-than-expected purchased transportation costs) and salaries & wages were $0.02 better than expected." Jefferies has a $19 PT on KNX. Shares of KNX closed yesterday at $19.07.