Shares of Knife River Corporation (NYSE:KNF – Get Free Report) gapped up before the market opened on Tuesday. The stock had previously closed at $57.73, but opened at $61.01. Knife River shares last traded at $58.5970, with a volume of 277,197 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lowered Knife River from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $103.00 to $58.00 in a research report on Friday, October 9th. Oppenheimer lowered their target price on Knife River from $90.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, September 24th. Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Citigroup lowered Knife River to a “cautious” rating in a report on Wednesday, September 9th. Finally, JPMorgan Chase & Co. dropped their target price on Knife River from $73.00 to $63.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. One 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $69.29.
View Our Latest Research Report on Knife River
Knife River Price Performance
The firm has a 50-day simple moving average of $55.57 and a two-hundred day simple moving average of $73.97. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.26 and a beta of 0.46. 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 issued its earnings results on Tuesday, November 3rd. The company reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.15). Knife River had a return on equity of 8.73% and a net margin of 4.23%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter in the previous year, the company earned $2.52 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that Knife River Corporation will post 2.55 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new stake in Knife River during the second quarter valued at $39,000. Allworth Financial LP increased its position in shares of Knife River by 74.6% during the second quarter. Allworth Financial LP now owns 590 shares of the company’s stock worth $49,000 after purchasing an additional 252 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Knife River in the second quarter valued at about $50,000. William Mack & Associates Inc. purchased a new position in Knife River in the 3rd quarter worth approximately $34,000. Finally, Signaturefd LLC grew its holdings in Knife River by 267.1% in the 3rd quarter. Signaturefd LLC now owns 826 shares of the company’s stock valued at $42,000 after buying an additional 601 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.
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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