Knife River Co. (NYSE:KNF) Receives $76.20 Consensus Target Price from Analysts

Shares of Knife River Co. (NYSE:KNF) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $76.20.

KNF has been the subject of a number of recent research reports. Oppenheimer boosted their price objective on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Bank of America began coverage on shares of Knife River in a report on Friday, January 5th. They set a “buy” rating and a $81.00 price objective for the company. Wolfe Research began coverage on shares of Knife River in a report on Friday, March 8th. They set a “peer perform” rating for the company. Finally, Loop Capital began coverage on shares of Knife River in a report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective for the company.

Knife River Trading Down 0.6 %

Knife River stock opened at $77.74 on Friday. The business has a 50-day simple moving average of $77.34 and a two-hundred day simple moving average of $66.96. The company has a market cap of $4.40 billion and a P/E ratio of -0.15. The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. Knife River has a 52-week low of $33.67 and a 52-week high of $83.78.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.16. The company had revenue of $646.90 million during the quarter, compared to the consensus estimate of $566.47 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm’s revenue for the quarter was up 20.4% on a year-over-year basis. Analysts predict that Knife River will post 3.5 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its position in shares of Knife River by 87.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock valued at $2,408,000 after acquiring an additional 23,022 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Knife River in the third quarter worth $893,000. Vanguard Group Inc. lifted its position in Knife River by 0.9% in the third quarter. Vanguard Group Inc. now owns 5,540,292 shares of the company’s stock worth $270,532,000 after buying an additional 46,737 shares during the last quarter. Planned Solutions Inc. bought a new stake in Knife River in the fourth quarter worth $53,000. Finally, Schonfeld Strategic Advisors LLC lifted its position in Knife River by 19.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after buying an additional 184,192 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Company Profile

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.