Knife River Corporation (NYSE:KNF) Receives $97.14 Consensus PT from Analysts

Knife River Corporation (NYSE:KNF) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $97.1429.

Several research analysts recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Wells Fargo & Company upped their price objective on shares of Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a report on Wednesday, July 8th. Oppenheimer assumed coverage on shares of Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 price objective on the stock. Zacks Research upgraded Knife River from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. Finally, JPMorgan Chase & Co. boosted their target price on Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th.

Knife River Price Performance

Shares of KNF opened at $77.56 on Tuesday. The firm has a market cap of $4.40 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 1.42 and a beta of 0.37. Knife River has a 52-week low of $58.72 and a 52-week high of $96.28. The business’s 50 day moving average price is $80.02 and its two-hundred day moving average price is $81.41. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, topping the consensus estimate of ($1.42) by $0.02. The company had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.21) EPS. On average, equities analysts anticipate that Knife River will post 3.32 EPS for the current year.

Institutional Investors Weigh In On Knife River

A number of hedge funds have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its holdings in shares of Knife River by 4.9% during the second quarter. Handelsbanken Fonder AB now owns 14,900 shares of the company’s stock valued at $1,246,000 after acquiring an additional 700 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Knife River during the second quarter worth approximately $50,000. Central Pacific Bank Trust Division lifted its holdings in shares of Knife River by 17.2% in the 2nd quarter. Central Pacific Bank Trust Division now owns 7,276 shares of the company’s stock worth $609,000 after purchasing an additional 1,070 shares in the last quarter. Ballast Advisors LLC bought a new position in shares of Knife River in the 1st quarter worth $97,000. Finally, NewEdge Advisors LLC grew its position in Knife River by 1.3% in the 1st quarter. NewEdge Advisors LLC now owns 23,790 shares of the company’s stock valued at $1,942,000 after purchasing an additional 304 shares during the period. Institutional investors and hedge funds 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.