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

Shares of Knife River Corporation (NYSE:KNF) have been assigned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $97.2857.

KNF has been the topic of several recent research reports. Wall Street Zen raised shares of Knife River from a “sell” rating to a “hold” rating in a research note on Monday, February 23rd. Stephens lifted their price objective on shares of Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada lifted their price objective on shares of Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Oppenheimer initiated coverage on shares of Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective on the stock. Finally, DA Davidson raised their target price on shares of Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in shares of Knife River by 141.8% in the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after buying an additional 200 shares during the period. McMillan Office Inc. acquired a new position in shares of Knife River in the fourth quarter worth about $36,000. 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 buying 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 buying an additional 177 shares during the period. Finally, UMB Bank n.a. boosted its holdings in shares of Knife River by 124.5% in the third quarter. UMB Bank n.a. now owns 743 shares of the company’s stock worth $57,000 after buying an additional 412 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Performance

Shares of KNF opened at $74.12 on Monday. The firm’s 50 day moving average is $81.81 and its 200-day moving average is $79.27. The stock has a market capitalization of $4.21 billion, a P/E ratio of 28.84, a P/E/G ratio of 1.37 and a beta of 0.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. Knife River has a 12-month low of $58.72 and a 12-month high of $95.29.

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

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.