Knife River Corporation (NYSE:KNF) Receives Average Recommendation of “Moderate Buy” from Brokerages

Knife River Corporation (NYSE:KNF) has received an average rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $97.00.

A number of equities analysts have recently weighed in on the company. Oppenheimer assumed coverage on Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price on the stock. 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 upgraded Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada cut their target price on Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company cut their target price on Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 15th.

Knife River Price Performance

Shares of NYSE KNF opened at $83.89 on Friday. Knife River has a twelve month low of $58.72 and a twelve month high of $96.28. The stock’s 50 day moving average price is $82.20 and its 200-day moving average price is $80.53. The company has a market capitalization of $4.76 billion, a PE ratio of 32.64, a PEG ratio of 1.54 and a beta of 0.40. 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 announced its earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The firm had revenue of $410.13 million for the quarter, compared to the consensus estimate of $387.06 million. During the same quarter in the previous year, the business earned ($1.21) EPS. The company’s revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Knife River will post 3.32 EPS for the current year.

Institutional Investors Weigh In On Knife River

Hedge funds have recently modified their holdings of the stock. McMillan Office Inc. bought a new stake in shares of Knife River in the 4th quarter worth approximately $36,000. Hantz Financial Services Inc. raised its holdings in shares of Knife River by 66.3% in the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after purchasing an additional 226 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Knife River by 1,088.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after purchasing an additional 544 shares during the period. GAMMA Investing LLC raised its holdings in shares of Knife River by 34.8% in the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after purchasing an additional 177 shares during the period. Finally, Larson Financial Group LLC raised its holdings in shares of Knife River by 198.5% in the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock worth $57,000 after purchasing an additional 536 shares during the period. 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.