Wells Fargo & Company Reiterates “Equal Weight” Rating for Knife River (NYSE:KNF)

Knife River (NYSE:KNF)‘s stock had its “equal weight” rating reiterated by research analysts at Wells Fargo & Company in a research report issued on Tuesday, Marketbeat Ratings reports. They presently have a $81.00 price target on the stock, up from their prior price target of $75.00. Wells Fargo & Company‘s price target points to a potential upside of 2.60% from the company’s current price.

A number of other brokerages also recently commented on KNF. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. Oppenheimer decreased their target price on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. UBS Group raised shares of Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Wall Street Zen lowered Knife River from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.33.

Knife River Stock Up 0.2%

NYSE:KNF opened at $78.95 on Tuesday. The business’s fifty day moving average price is $73.64 and its 200 day moving average price is $76.04. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 1.29 and a beta of 0.47. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73. Knife River has a 1-year low of $58.72 and a 1-year high of $108.83.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. On average, sell-side analysts forecast that Knife River will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knife River

Institutional investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its stake in shares of Knife River by 141.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after acquiring an additional 200 shares in the last quarter. Country Trust Bank acquired a new stake in Knife River in the 2nd quarter worth approximately $40,000. Quent Capital LLC bought a new stake in Knife River during the third quarter worth approximately $47,000. GHP Investment Advisors Inc. acquired a new position in Knife River during the second quarter valued at approximately $48,000. Finally, GAMMA Investing LLC raised its position in shares of Knife River by 34.8% in the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after purchasing an additional 177 shares during the period. 80.11% of the stock is currently owned by institutional investors.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.