Brokerages Set Knife River Corporation (NYSE:KNF) Price Target at $117.17

Knife River Corporation (NYSE:KNF) has earned an average recommendation of “Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $117.17.

KNF has been the topic of several recent analyst reports. Royal Bank Of Canada initiated coverage on Knife River in a report on Monday. They set an “outperform” rating and a $129.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Finally, DA Davidson cut their price objective on Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday, June 10th.

Knife River Price Performance

Shares of KNF opened at $79.05 on Monday. Knife River has a 1 year low of $66.51 and a 1 year high of $108.83. The company has a current ratio of 2.94, a quick ratio of 1.49 and a debt-to-equity ratio of 0.82. The stock has a market cap of $4.48 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84. The stock’s 50-day moving average price is $93.12 and its two-hundred day moving average price is $96.44.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.32). Knife River had a net margin of 6.18% and a return on equity of 12.83%. The business had revenue of $353.50 million for the quarter, compared to the consensus estimate of $343.98 million. During the same quarter last year, the firm earned ($0.84) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, equities analysts predict that Knife River will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

Several institutional investors have recently bought and sold shares of the company. Capital Research Global Investors increased its position in shares of Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock worth $196,829,000 after purchasing an additional 603,170 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Knife River by 4,145.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock worth $150,456,000 after purchasing an additional 1,628,535 shares during the last quarter. Invesco Ltd. increased its position in shares of Knife River by 40.6% during the 1st quarter. Invesco Ltd. now owns 1,236,929 shares of the company’s stock worth $111,583,000 after purchasing an additional 357,133 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Knife River by 7.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company’s stock worth $106,429,000 after purchasing an additional 78,209 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its position in shares of Knife River by 9.6% during the 1st quarter. Driehaus Capital Management LLC now owns 1,077,922 shares of the company’s stock worth $97,239,000 after purchasing an additional 94,710 shares during the last quarter. Institutional investors 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.