Knife River (NYSE:KNF) Now Covered by Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Knife River (NYSE:KNF) in a research note released on Monday, MarketBeat.com reports. The brokerage issued an outperform rating and a $129.00 target price on the stock.

Other analysts have also issued research reports about the stock. DA Davidson lowered their target price on shares of Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, June 10th. Wells Fargo & Company boosted their price target on shares of Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $117.17.

Knife River Trading Up 2.3%

KNF opened at $82.66 on Monday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.36 and a beta of 0.84. The firm’s 50 day moving average is $93.34 and its 200-day moving average is $96.70. Knife River has a 52-week low of $66.51 and a 52-week high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). The company had revenue of $353.50 million during the quarter, compared to the consensus estimate of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.84) EPS. Analysts expect that Knife River will post 4.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Knife River

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp bought a new stake in shares of Knife River in the 4th quarter valued at approximately $4,201,000. Asset Management One Co. Ltd. bought a new stake in Knife River during the fourth quarter worth approximately $2,703,000. Principal Financial Group Inc. boosted its position in Knife River by 1.5% during the fourth quarter. Principal Financial Group Inc. now owns 154,632 shares of the company’s stock worth $15,717,000 after purchasing an additional 2,303 shares during the period. Sanctuary Advisors LLC boosted its position in Knife River by 24.9% during the fourth quarter. Sanctuary Advisors LLC now owns 5,093 shares of the company’s stock worth $540,000 after purchasing an additional 1,014 shares during the period. Finally, Hudson Value Partners LLC boosted its position in Knife River by 3.9% during the fourth quarter. Hudson Value Partners LLC now owns 54,004 shares of the company’s stock worth $5,489,000 after purchasing an additional 2,042 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

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.