Knife River (NYSE:KNF) Price Target Cut to $75.00 by Analysts at Wells Fargo & Company

Knife River (NYSE:KNF) had its price target reduced by equities researchers at Wells Fargo & Company from $81.00 to $75.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 9.60% from the stock’s current price.

KNF has been the subject of several other reports. Oppenheimer reduced their target price on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. UBS Group raised shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada dropped their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. DA Davidson cut their target price on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Finally, B. Riley started coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price target for the company. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.71.

Knife River Stock Down 0.7%

Knife River stock traded down $0.51 during trading on Thursday, hitting $68.43. 14,278 shares of the company were exchanged, compared to its average volume of 470,889. The company has a market capitalization of $3.88 billion, a P/E ratio of 26.30, a PEG ratio of 1.15 and a beta of 0.47. The business’s 50 day moving average is $74.90 and its 200 day moving average is $75.76. Knife River has a 52 week low of $58.72 and a 52 week high of $106.89. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73.

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

Hedge Funds Weigh In On Knife River

Several large investors have recently modified their holdings of KNF. Paradice Investment Management LLC bought a new stake in shares of Knife River during the 4th quarter valued at about $22,001,000. Teacher Retirement System of Texas grew its position in Knife River by 87.8% during the fourth quarter. Teacher Retirement System of Texas now owns 255,557 shares of the company’s stock valued at $17,978,000 after buying an additional 119,452 shares during the period. M&T Bank Corp increased its holdings in Knife River by 325.5% during the fourth quarter. M&T Bank Corp now owns 297,798 shares of the company’s stock valued at $20,950,000 after buying an additional 227,804 shares during the last quarter. Hudson Value Partners LLC raised its position in Knife River by 0.7% in the fourth quarter. Hudson Value Partners LLC now owns 54,330 shares of the company’s stock worth $3,882,000 after acquiring an additional 403 shares during the period. Finally, Clear Creek Financial Management LLC boosted its stake in shares of Knife River by 2.9% during the 4th quarter. Clear Creek Financial Management LLC now owns 15,932 shares of the company’s stock worth $1,121,000 after acquiring an additional 446 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

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.