Knife River (NYSE:KNF) Rating Lowered to Sell at Wall Street Zen

Knife River (NYSE:KNF) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.

A number of other equities analysts also recently weighed in on the stock. UBS Group raised shares of Knife River to an “overweight” rating in a research note on Tuesday, November 4th. Royal Bank Of Canada reduced their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. B. Riley Financial initiated coverage on Knife River in a research note on Thursday, January 15th. They issued a “buy” rating and a $92.00 target price on the stock. Finally, JPMorgan Chase & Co. started coverage on Knife River in a report on Thursday, December 4th. They set a “neutral” rating and a $83.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Knife River currently has an average rating of “Moderate Buy” and a consensus target price of $91.67.

Knife River Stock Down 0.9%

Shares of Knife River stock opened at $80.74 on Friday. Knife River has a 1 year low of $58.72 and a 1 year high of $105.23. The firm has a market cap of $4.57 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 1.36 and a beta of 0.47. The company has a 50-day moving average of $75.52 and a 200 day moving average of $75.40. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.39 and a quick ratio of 1.47.

Hedge Funds Weigh In On Knife River

Several institutional investors have recently made changes to their positions in KNF. Baillie Gifford & Co. purchased a new stake in Knife River during the third quarter valued at approximately $169,020,000. Capital World Investors purchased a new position in shares of Knife River during the 4th quarter worth $71,166,000. Norges Bank bought a new stake in shares of Knife River during the 2nd quarter valued at $53,260,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Knife River by 57.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock worth $124,821,000 after purchasing an additional 648,979 shares in the last quarter. Finally, Voss Capital LP bought a new position in Knife River in the 3rd quarter worth $33,823,000. Institutional investors own 80.11% of the company’s stock.

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.