Knife River (NYSE:KNF) Given New $114.00 Price Target at Wells Fargo & Company

Knife River (NYSE:KNF) had its price objective raised by Wells Fargo & Company from $102.00 to $114.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Separately, Stephens reiterated an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $112.80.

Knife River Price Performance

Shares of NYSE:KNF opened at $102.88 on Tuesday. Knife River has a 12 month low of $66.13 and a 12 month high of $108.83. The firm has a market capitalization of $5.83 billion, a P/E ratio of 29.06, a P/E/G ratio of 2.36 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The company’s fifty day moving average price is $91.85 and its 200 day moving average price is $97.37.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.32). Knife River had a return on equity of 14.82% and a net margin of 6.96%. The firm had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $343.98 million. During the same period in the previous year, the business posted ($0.84) EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts predict that Knife River will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knife River

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its position in Knife River by 156.2% during the 3rd quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after acquiring an additional 103,713 shares during the period. AdvisorNet Financial Inc raised its stake in shares of Knife River by 4.2% during the fourth quarter. AdvisorNet Financial Inc now owns 5,645 shares of the company’s stock worth $574,000 after purchasing an additional 227 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in shares of Knife River during the fourth quarter worth $675,000. Ellsworth Advisors LLC acquired a new stake in shares of Knife River during the fourth quarter worth $681,000. Finally, Drive Wealth Management LLC purchased a new position in Knife River in the 4th quarter valued at $2,062,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.