Knife River Corporation (NYSE:KNF) Receives $97.29 Average Price Target from Analysts

Knife River Corporation (NYSE:KNF) has been given an average rating of “Moderate Buy” by the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $97.00.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Oppenheimer assumed coverage on shares of Knife River in a research note on Thursday, May 28th. They set an “outperform” rating and a $95.00 price target for the company. Wells Fargo & Company cut their price target on shares of Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 15th. Royal Bank Of Canada reduced their price objective on shares of Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings raised shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th.

Knife River Price Performance

Shares of Knife River stock opened at $84.80 on Friday. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 1.48 and a beta of 0.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. The stock has a 50 day moving average price of $82.00 and a 200-day moving average price of $80.62. Knife River has a one year low of $58.72 and a one year high of $96.28.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, beating the consensus estimate of ($1.42) by $0.02. The company had revenue of $410.13 million for the quarter, compared to analyst estimates of $387.06 million. Knife River had a return on equity of 9.35% and a net margin of 4.58%.Knife River’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.21) EPS. Equities analysts expect that Knife River will post 3.32 EPS for the current year.

Institutional Investors Weigh In On Knife River

A number of institutional investors and hedge funds have recently modified their holdings of KNF. Jones Financial Companies Lllp grew its position in Knife River by 284.9% in the 1st quarter. Jones Financial Companies Lllp now owns 6,390 shares of the company’s stock valued at $576,000 after acquiring an additional 4,730 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Knife River during the first quarter worth $424,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Knife River by 16.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company’s stock valued at $20,529,000 after purchasing an additional 32,762 shares during the period. State Street Corp boosted its stake in shares of Knife River by 0.6% during the second quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after purchasing an additional 12,308 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Knife River by 71.0% in the second quarter. Raymond James Financial Inc. now owns 354,860 shares of the company’s stock worth $28,971,000 after purchasing an additional 147,387 shares during the last quarter. 80.11% of the stock is 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.