Knife River (NYSE:KNF) Given New $59.00 Price Target at Royal Bank Of Canada

Knife River (NYSE:KNF) had its target price increased by Royal Bank Of Canada from $58.00 to $59.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other research firms also recently weighed in on KNF. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Stephens increased their price objective on Knife River from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday. B. Riley Financial reduced their price objective on Knife River from $105.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Wolfe Research raised Knife River from a “peer perform” rating to an “outperform” rating in a research report on Tuesday, October 27th. Finally, DA Davidson began coverage on Knife River in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Knife River Trading Down 8.5%

NYSE KNF opened at $56.94 on Thursday. The stock has a market cap of $3.23 billion, a PE ratio of 26.37, a PEG ratio of 1.47 and a beta of 0.40. Knife River has a 12 month low of $47.79 and a 12 month high of $96.28. The company’s 50-day moving average price is $55.20 and its 200-day moving average price is $73.64. The company has a current ratio of 2.73, a quick ratio of 1.60 and a debt-to-equity ratio of 0.88.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $2.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.15). The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Knife River had a net margin of 3.98% and a return on equity of 8.22%. Knife River’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $2.52 earnings per share. Equities research analysts forecast that Knife River will post 2.52 earnings per share for the current year.

Hedge Funds Weigh In On Knife River

Several hedge funds have recently made changes to their positions in KNF. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Knife River during the second quarter worth about $21,242,000. Dimensional Fund Advisors LP increased its position in shares of Knife River by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company’s stock worth $119,579,000 after acquiring an additional 73,028 shares during the period. Bank of America Corp DE increased its holdings in Knife River by 19.0% during the 1st quarter. Bank of America Corp DE now owns 392,534 shares of the company’s stock worth $32,050,000 after purchasing an additional 62,592 shares during the period. First Trust Advisors LP raised its holdings in Knife River by 214.2% in the first quarter. First Trust Advisors LP now owns 89,551 shares of the company’s stock valued at $7,312,000 after acquiring an additional 61,053 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Knife River in the second quarter valued at approximately $3,187,000. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.

Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.

Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.