Knife River (NYSE:KNF) Now Covered by Analysts at B. Riley

B. Riley initiated coverage on shares of Knife River (NYSE:KNF) in a research note issued to investors on Thursday morning, Marketbeat reports. The firm issued a buy rating on the stock.

Several other research analysts have also recently weighed in on KNF. Oppenheimer reduced their price target on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. Wells Fargo & Company reissued an “equal weight” rating and issued a $81.00 price target (up previously from $75.00) on shares of Knife River in a research note on Tuesday. Royal Bank Of Canada reduced their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Finally, DA Davidson decreased their price objective on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday, October 1st. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.57.

Knife River Stock Performance

KNF stock opened at $83.31 on Thursday. Knife River has a 1-year low of $58.72 and a 1-year high of $108.83. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.72 billion, a PE ratio of 31.92, a P/E/G ratio of 1.31 and a beta of 0.47. The business’s 50-day moving average price is $74.07 and its two-hundred day moving average price is $76.08.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. As a group, research analysts forecast that Knife River will post 4.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KNF. Hantz Financial Services Inc. raised its stake in shares of Knife River by 141.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Country Trust Bank bought a new position in shares of Knife River in the second quarter valued at $40,000. Quent Capital LLC acquired a new position in Knife River during the third quarter worth $47,000. GHP Investment Advisors Inc. bought a new stake in Knife River during the second quarter worth $48,000. Finally, GAMMA Investing LLC lifted its stake in Knife River by 34.8% in the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after acquiring an additional 177 shares during the last quarter. 80.11% of the stock is currently owned by 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.