Knife River (NYSE:KNF) Stock Price Down 4.9% – Should You Sell?

Knife River Corporation (NYSE:KNF) shares were down 4.9% on Thursday . The company traded as low as $77.55 and last traded at $78.12. Approximately 290,253 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 649,611 shares. The stock had previously closed at $82.11.

Analysts Set New Price Targets

Several equities analysts have issued reports on KNF shares. JPMorgan Chase & Co. raised their price objective on Knife River from $83.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. B. Riley Financial started coverage on Knife River in a research report on Thursday, January 15th. They issued a “buy” rating and a $92.00 target price for the company. Stephens lifted their price target on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Wall Street Zen raised Knife River from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company cut shares of Knife River from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $75.00 to $81.00 in a report on Wednesday, February 18th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.43.

Knife River Price Performance

The company has a 50-day moving average of $81.30 and a 200-day moving average of $75.33. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 2.54. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.84 and a beta of 0.42.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The company had revenue of $755.06 million for the quarter, compared to the consensus estimate of $726.60 million. During the same period last year, the business posted $0.41 EPS. The company’s revenue was up 14.9% on a year-over-year basis. As a group, equities research analysts predict that Knife River Corporation will post 4.11 earnings per share for the current year.

Institutional Trading of Knife River

Hedge funds have recently made changes to their positions in the company. Register Financial Advisors LLC grew its position in Knife River by 117.8% during the third quarter. Register Financial Advisors LLC now owns 36,115 shares of the company’s stock worth $2,776,000 after buying an additional 19,536 shares during the period. Clear Creek Financial Management LLC grew its holdings in shares of Knife River by 103.2% in the 3rd quarter. Clear Creek Financial Management LLC now owns 15,486 shares of the company’s stock worth $1,190,000 after acquiring an additional 7,866 shares during the period. Thrivent Financial for Lutherans increased its stake in Knife River by 21.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 81,315 shares of the company’s stock valued at $6,250,000 after purchasing an additional 14,253 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Knife River by 15.5% during the third quarter. Principal Financial Group Inc. now owns 180,906 shares of the company’s stock worth $13,906,000 after purchasing an additional 24,287 shares during the last quarter. Finally, Voss Capital LP acquired a new position in Knife River during the third quarter worth $33,823,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

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.