DA Davidson Forecasts Strong Price Appreciation for Knife River (NYSE:KNF) Stock

Knife River (NYSE:KNF) had its target price hoisted by analysts at DA Davidson from $90.00 to $110.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s price objective would suggest a potential upside of 7.25% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. Loop Capital dropped their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday. Oppenheimer upped their price objective on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.67.

Knife River Stock Up 11.9 %

Knife River stock traded up $10.90 during trading hours on Wednesday, hitting $102.56. The company had a trading volume of 390,705 shares, compared to its average volume of 382,993. The firm has a market capitalization of $5.81 billion, a P/E ratio of 29.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.74. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. The firm’s fifty day moving average is $87.66 and its 200-day moving average is $78.88. Knife River has a fifty-two week low of $54.05 and a fifty-two week high of $103.14.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22). The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.58 EPS. On average, research analysts forecast that Knife River will post 3.68 earnings per share for the current year.

Institutional Trading of Knife River

A number of hedge funds have recently bought and sold shares of KNF. abrdn plc bought a new stake in Knife River in the 3rd quarter valued at $22,934,000. Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Knife River by 12.2% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after buying an additional 224,373 shares in the last quarter. Swedbank AB acquired a new position in shares of Knife River in the 1st quarter valued at $9,730,000. M&G Plc acquired a new position in shares of Knife River in the 1st quarter valued at $9,289,000. Finally, Interval Partners LP acquired a new position in shares of Knife River in the 2nd quarter valued at $7,614,000. 80.11% of the stock is owned by institutional investors.

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.