Wolfe Research upgraded shares of Knife River (NYSE:KNF – Free Report) from a peer perform rating to an outperform rating in a research note published on Tuesday morning, MarketBeat reports.
KNF has been the topic of several other research reports. DA Davidson started coverage on shares of Knife River in a research report on Monday, August 24th. They issued a “buy” rating and a $85.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Knife River from $62.00 to $54.00 and set an “equal weight” rating for the company in a report on Monday, October 5th. B. Riley Financial reduced their price objective on shares of Knife River from $105.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Royal Bank Of Canada cut shares of Knife River from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $103.00 to $58.00 in a report on Friday, October 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Knife River presently has a consensus rating of “Hold” and a consensus target price of $69.29.
Get Our Latest Stock Report on Knife River
Knife River Trading Up 6.1%
NYSE KNF opened at $57.57 on Tuesday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 23.50, a PEG ratio of 1.26 and a beta of 0.46. The business has a fifty day simple moving average of $55.90 and a 200 day simple moving average of $74.18. Knife River has a 12 month low of $47.79 and a 12 month high of $96.28. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00.
Knife River (NYSE:KNF – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). Knife River had a net margin of 4.23% and a return on equity of 8.73%. The business had revenue of $938.59 million during the quarter, compared to the consensus estimate of $931.39 million. During the same quarter last year, the company earned $0.89 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts predict that Knife River will post 2.55 EPS for the current fiscal year.
Institutional Investors Weigh In On Knife River
Several hedge funds have recently added to or reduced their stakes in KNF. William Mack & Associates Inc. bought a new position in shares of Knife River during the 3rd quarter valued at $34,000. Asset Management One Co. Ltd. lifted its stake in Knife River by 40.6% in the third quarter. Asset Management One Co. Ltd. now owns 3,986 shares of the company’s stock worth $201,000 after purchasing an additional 1,151 shares during the last quarter. Signaturefd LLC lifted its stake in Knife River by 267.1% in the third quarter. Signaturefd LLC now owns 826 shares of the company’s stock worth $42,000 after purchasing an additional 601 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its stake in Knife River by 26.4% in the third quarter. ZWJ Investment Counsel Inc. now owns 4,000 shares of the company’s stock worth $202,000 after purchasing an additional 836 shares during the last quarter. Finally, Allied Investment Advisors LLC boosted its position in Knife River by 16.5% during the third quarter. Allied Investment Advisors LLC now owns 5,384 shares of the company’s stock valued at $271,000 after buying an additional 763 shares during the period. 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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