NEW YORK (TheStreet) -- Knight Transportation  (KNX - Get Report) stock was downgraded to "equal weight" from "overweight" at Barclays on Thursday. The firm maintained its price target of $24 on the stock. 

The truckload transportation company's valuation is near its full value, Barclays said. 

Additionally, Knight faces a weaker freight market, the firm adds. 

"This downgrade is not easy given Knight's industry-leading financial returns and a solid management culture focused on longterm growth," Barclays notes. "Nonetheless, weak spot freight pricing and sluggish demand suggests earnings expansion will be difficult in the near term." 

However, Barclays projects that Knight will remain an industry leader "for years to come." 

Knight stock closed up 0.04% to $25.28 on Wednesday.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

You can view the full analysis from the report here: KNX