Knife River (NYSE:KNF) Stock Price Down 6.3% – Time to Sell?

Knife River Corporation (NYSE:KNF)’s share price fell 6.3% during trading on Monday . The stock traded as low as $87.76 and last traded at $87.12. 272,088 shares traded hands during trading, a decline of 56% from the average daily volume of 612,101 shares. The stock had previously closed at $92.96.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on KNF shares. JPMorgan Chase & Co. boosted their target price on Knife River from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Weiss Ratings raised Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Oppenheimer assumed coverage on Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Knife River from $81.00 to $80.00 and set an “underweight” rating for the company in a research report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $97.29.

Knife River Stock Down 7.0%

The firm has a market capitalization of $4.91 billion, a PE ratio of 33.66, a P/E/G ratio of 1.66 and a beta of 0.41. The stock has a 50-day simple moving average of $82.27 and a 200-day simple moving average of $80.40. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, topping the consensus estimate of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The company had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. During the same quarter in the prior year, the company earned ($1.21) EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts forecast that Knife River Corporation will post 3.32 EPS for the current year.

Institutional Trading of Knife River

A number of institutional investors have recently modified their holdings of the business. McMillan Office Inc. purchased a new position in Knife River in the 4th quarter valued at approximately $36,000. Hantz Financial Services Inc. lifted its position in shares of Knife River by 66.3% during the fourth quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after acquiring an additional 226 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Knife River by 1,088.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after acquiring an additional 544 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Knife River by 34.8% in the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after acquiring an additional 177 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Knife River by 198.5% in the fourth quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after purchasing an additional 536 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other 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.