Knife River Corporation (NYSE:KNF – Get Free Report) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $89.7143.
Several research firms recently weighed in on KNF. JPMorgan Chase & Co. reduced their target price on Knife River from $95.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Oppenheimer initiated coverage on Knife River in a report on Thursday, May 28th. They set an “outperform” rating and a $95.00 target price for the company. Weiss Ratings raised shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. Stephens set a $80.00 price target on Knife River in a report on Wednesday, August 5th. Finally, Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th.
Get Our Latest Analysis on Knife River
Knife River Stock Performance
Knife River (NYSE:KNF – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.36). The business had revenue of $938.57 million during the quarter, compared to analysts’ expectations of $931.39 million. Knife River had a return on equity of 8.73% and a net margin of 4.23%.Knife River’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts anticipate that Knife River will post 3.08 EPS for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Knife River by 6.9% during the 1st quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $151,000 after buying an additional 119 shares during the last quarter. DMKC Advisory Services LLC grew its holdings in Knife River by 4.2% in the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock worth $265,000 after buying an additional 150 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Knife River by 5.6% during the fourth quarter. TIAA Trust National Association now owns 3,146 shares of the company’s stock valued at $221,000 after purchasing an additional 166 shares during the period. Lido Advisors LLC increased its stake in Knife River by 6.0% during the 1st quarter. Lido Advisors LLC now owns 2,949 shares of the company’s stock valued at $241,000 after buying an additional 167 shares during the period. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Knife River by 6.3% during the third quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock valued at $285,000 after acquiring an additional 220 shares during the period. 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.
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