Wells Fargo & Company Boosts Knife River (NYSE:KNF) Price Target to $97.00

Knife River (NYSE:KNF) had its target price upped by analysts at Wells Fargo & Company from $96.00 to $97.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 4.33% from the stock’s current price.

A number of other research firms have also recently issued reports on KNF. DA Davidson lowered their price objective on Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 10th. Royal Bank Of Canada began coverage on shares of Knife River in a report on Monday, June 16th. They issued an “outperform” rating and a $129.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Knife River has an average rating of “Buy” and a consensus price target of $114.33.

Knife River Trading Up 5.2%

NYSE:KNF opened at $92.97 on Monday. The company’s 50 day moving average is $83.05 and its 200-day moving average is $90.73. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. Knife River has a 12 month low of $72.11 and a 12 month high of $108.83. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 34.56, a P/E/G ratio of 6.44 and a beta of 0.63.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). The business had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%. Knife River’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 EPS. Equities analysts anticipate that Knife River will post 4.11 EPS for the current year.

Institutional Investors Weigh In On Knife River

A number of institutional investors have recently made changes to their positions in KNF. Opal Wealth Advisors LLC acquired a new stake in Knife River in the first quarter worth $26,000. Brooklyn Investment Group lifted its holdings in Knife River by 31,200.0% during the first quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after acquiring an additional 312 shares in the last quarter. Versant Capital Management Inc grew its stake in Knife River by 501.9% in the first quarter. Versant Capital Management Inc now owns 325 shares of the company’s stock valued at $29,000 after acquiring an additional 271 shares during the period. State of Wyoming acquired a new position in Knife River in the fourth quarter valued at about $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Knife River in the first quarter worth about $35,000. 80.11% of the stock is owned by institutional investors and hedge funds.

About Knife River

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.