Knife River (NYSE:KNF) Stock Price Down 7.5% – What’s Next?

Knife River Corporation (NYSE:KNF) shares were down 7.5% on Tuesday . The company traded as low as $77.71 and last traded at $77.12. Approximately 318,655 shares were traded during trading, a decline of 25% from the average daily volume of 427,046 shares. The stock had previously closed at $83.33.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Zacks Research raised shares of Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. DA Davidson cut their price target on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Royal Bank Of Canada reduced their price target on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $81.00 price objective (up previously from $75.00) on shares of Knife River in a report on Tuesday, January 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Six research 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 stock has a consensus rating of “Moderate Buy” and an average target price of $96.57.

Knife River Price Performance

The company has a 50 day moving average of $74.30 and a 200 day moving average of $76.02. 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 $4.37 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.36 and a beta of 0.47.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Equities research analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Institutional Trading of Knife River

Several hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. acquired a new position in shares of Knife River in the third quarter valued at approximately $169,020,000. State Street Corp lifted its position in Knife River by 0.6% in the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after acquiring an additional 12,308 shares in the last quarter. Geode Capital Management LLC lifted its position in Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock valued at $113,960,000 after acquiring an additional 15,464 shares in the last quarter. Invesco Ltd. boosted its stake in Knife River by 2.9% in the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock worth $103,914,000 after purchasing an additional 35,900 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Knife River by 2.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,247,486 shares of the company’s stock worth $95,880,000 after purchasing an additional 31,560 shares in the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Company Profile

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.