Knife River (NYSE:KNF) Hits New 1-Year High After Analyst Upgrade

Knife River Co. (NYSE:KNF)’s share price hit a new 52-week high on Wednesday after DA Davidson raised their price target on the stock from $90.00 to $110.00. DA Davidson currently has a buy rating on the stock. Knife River traded as high as $99.80 and last traded at $99.80, with a volume of 3363 shares. The stock had previously closed at $91.66.

Several other research analysts have also commented on the company. Oppenheimer lifted their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Loop Capital cut their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $93.67.

Institutional Investors Weigh In On Knife River

Several large investors have recently added to or reduced their stakes in KNF. Bayesian Capital Management LP purchased a new stake in shares of Knife River in the 1st quarter worth approximately $687,000. Swedbank AB bought a new stake in Knife River during the 1st quarter valued at $9,730,000. Comerica Bank increased its holdings in shares of Knife River by 59.2% in the 1st quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after acquiring an additional 15,848 shares during the period. Ontario Teachers Pension Plan Board raised its position in shares of Knife River by 34.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 31,051 shares of the company’s stock worth $2,518,000 after acquiring an additional 7,988 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in Knife River by 311.5% during the second quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock valued at $1,009,000 after purchasing an additional 10,886 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Price Performance

The company has a market cap of $5.69 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 2.20 and a beta of 0.74. The firm has a 50 day simple moving average of $88.14 and a 200-day simple moving average of $79.03. The company has a quick ratio of 1.49, a current ratio of 2.72 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last announced its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the business earned $2.58 earnings per share. Knife River’s revenue was up 1.4% on a year-over-year basis. As a group, research analysts predict that Knife River Co. will post 3.68 earnings per share for the current fiscal year.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.