Wall Street Zen Upgrades Knife River (NYSE:KNF) to “Hold”

Knife River (NYSE:KNF) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company raised shares of Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 price target on the stock in a research report on Tuesday, November 4th. Oppenheimer reduced their target price on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Finally, UBS Group raised Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.00.

Knife River Stock Up 2.2%

Shares of NYSE KNF opened at $70.66 on Monday. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $69.24 and its two-hundred day moving average is $80.27. Knife River has a 52-week low of $58.72 and a 52-week high of $108.83. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.44 and a beta of 0.53.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Knife River has set its FY 2025 guidance at EPS. Research analysts predict that Knife River will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Knife River

Several hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. purchased a new stake in shares of Knife River during the 3rd quarter worth approximately $169,020,000. Price T Rowe Associates Inc. MD raised its stake in 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 acquiring an additional 1,628,535 shares in the last quarter. Norges Bank purchased a new stake in Knife River in the second quarter valued at $53,260,000. T. Rowe Price Investment Management Inc. boosted its stake in Knife River by 129.0% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company’s stock valued at $95,026,000 after acquiring an additional 593,431 shares in the last quarter. Finally, Voss Capital LP purchased a new position in shares of Knife River during the third quarter worth about $33,823,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

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.