Knife River Corporation (NYSE:KNF – Get Free Report)’s share price crossed above its fifty day moving average during trading on Thursday. The stock has a fifty day moving average of $55.90 and traded as high as $58.68. Knife River shares last traded at $57.5670, with a volume of 575,476 shares.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on KNF. JPMorgan Chase & Co. reduced their price objective on Knife River from $73.00 to $63.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Wells Fargo & Company dropped their target price on Knife River from $62.00 to $54.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Stephens set a $80.00 target price on Knife River in a research note on Wednesday, August 5th. Zacks Research upgraded Knife River from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Monday, August 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $69.29.
View Our Latest Analysis on KNF
Knife River Stock Up 6.1%
The firm’s 50 day simple moving average is $55.90 and its 200 day simple moving average is $74.18. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 23.50, a price-to-earnings-growth ratio of 1.26 and a beta of 0.46. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00.
Knife River (NYSE:KNF – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%. The business had revenue of $938.59 million for the quarter, compared to analyst estimates of $931.39 million. During the same quarter in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Sell-side analysts anticipate that Knife River Corporation will post 2.55 EPS for the current fiscal year.
Institutional Trading of Knife River
Hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Vermont bought a new position in shares of Knife River in the second quarter worth $39,000. Allworth Financial LP increased its holdings in shares of Knife River by 74.6% during the second quarter. Allworth Financial LP now owns 590 shares of the company’s stock valued at $49,000 after purchasing an additional 252 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Knife River during the second quarter valued at about $50,000. William Mack & Associates Inc. bought a new stake in shares of Knife River during the third quarter valued at about $34,000. Finally, Signaturefd LLC raised its stake in shares of Knife River by 267.1% during the third quarter. Signaturefd LLC now owns 826 shares of the company’s stock valued at $42,000 after purchasing an additional 601 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.
About Knife River
Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.
Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.
Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.
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