Knife River (NYSE:KNF) Price Target Raised to $90.00

Knife River (NYSE:KNF) had its price target hoisted by JPMorgan Chase & Co. from $83.00 to $90.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research report on Thursday, January 22nd. Stephens boosted their price objective on Knife River from $86.00 to $105.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. DA Davidson increased their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of Knife River from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.43.

Knife River Price Performance

Shares of KNF stock opened at $80.19 on Thursday. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70. Knife River has a 12-month low of $58.72 and a 12-month high of $103.18. The firm has a fifty day moving average of $79.39 and a 200-day moving average of $75.40. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 29.05, a price-to-earnings-growth ratio of 1.85 and a beta of 0.27.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The business had revenue of $755.06 million for the quarter, compared to the consensus estimate of $726.60 million. During the same quarter last year, the business posted $0.41 EPS. The firm’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts forecast that Knife River will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KNF. Register Financial Advisors LLC grew its holdings in shares of Knife River by 117.8% in the 3rd quarter. Register Financial Advisors LLC now owns 36,115 shares of the company’s stock valued at $2,776,000 after acquiring an additional 19,536 shares in the last quarter. Franklin Resources Inc. raised its holdings in Knife River by 27.2% during the second quarter. Franklin Resources Inc. now owns 685,911 shares of the company’s stock worth $55,998,000 after acquiring an additional 146,782 shares in the last quarter. Clear Creek Financial Management LLC raised its holdings in Knife River by 103.2% during the third quarter. Clear Creek Financial Management LLC now owns 15,486 shares of the company’s stock worth $1,190,000 after acquiring an additional 7,866 shares in the last quarter. Rhumbline Advisers boosted its position in Knife River by 2.8% during the second quarter. Rhumbline Advisers now owns 181,591 shares of the company’s stock valued at $14,825,000 after purchasing an additional 4,889 shares during the last quarter. Finally, Boston Partners grew its stake in Knife River by 60.7% in the second quarter. Boston Partners now owns 383,065 shares of the company’s stock valued at $31,518,000 after purchasing an additional 144,680 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Company Profile

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.