Knife River (NYSE:KNF) Shares Gap Down to $80.77

Knife River Co. (NYSE:KNF)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $80.77, but opened at $74.00. Knife River shares last traded at $76.57, with a volume of 46,711 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KNF. Wolfe Research began coverage on shares of Knife River in a research note on Friday, March 8th. They set a “peer perform” rating on the stock. Loop Capital assumed coverage on shares of Knife River in a report on Tuesday, February 13th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Oppenheimer upped their price target on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.20.

Knife River Stock Down 2.4 %

The firm has a fifty day simple moving average of $77.78 and a 200 day simple moving average of $67.64. The company has a market cap of $4.46 billion and a PE ratio of -0.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.71 and a current ratio of 2.63.

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 the consensus estimate of $0.20 by $0.16. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The company had revenue of $646.90 million during the quarter, compared to analysts’ expectations of $566.47 million. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. Equities research analysts predict that Knife River Co. will post 3.5 EPS for the current year.

Hedge Funds Weigh In On Knife River

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Knife River by 17.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,923 shares of the company’s stock valued at $485,000 after purchasing an additional 1,449 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Knife River by 9.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 294,983 shares of the company’s stock worth $14,404,000 after purchasing an additional 25,591 shares during the last quarter. TIAA Trust National Association acquired a new position in Knife River during the 3rd quarter worth $207,000. Allspring Global Investments Holdings LLC grew its stake in Knife River by 48.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 348,541 shares of the company’s stock worth $17,019,000 after purchasing an additional 113,575 shares in the last quarter. Finally, Securian Asset Management Inc. acquired a new position in Knife River in the third quarter worth about $211,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

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.