Knife River (NYSE:KNF) Hits New 12-Month High on Analyst Upgrade

Knife River Co. (NYSE:KNF) shares hit a new 52-week high on Wednesday after DA Davidson raised their price target on the stock from $90.00 to $110.00. DA Davidson currently has a buy rating on the stock. Knife River traded as high as $99.80 and last traded at $99.80, with a volume of 3363 shares changing hands. The stock had previously closed at $91.66.

KNF has been the subject of several other reports. Loop Capital reduced their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Oppenheimer boosted their target price on shares of Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.67.

Hedge Funds Weigh In On Knife River

Institutional investors and hedge funds have recently modified their holdings of the business. Royce & Associates LP acquired a new stake in Knife River in the third quarter valued at approximately $1,028,000. Huntington National Bank grew its stake in Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after acquiring an additional 293 shares during the period. KBC Group NV grew its stake in Knife River by 23.1% in the 3rd quarter. KBC Group NV now owns 1,763 shares of the company’s stock valued at $158,000 after acquiring an additional 331 shares during the period. Covestor Ltd raised its position in Knife River by 13.2% during the third quarter. Covestor Ltd now owns 1,288 shares of the company’s stock worth $115,000 after acquiring an additional 150 shares during the period. Finally, Atria Investments Inc lifted its holdings in Knife River by 26.9% during the third quarter. Atria Investments Inc now owns 5,258 shares of the company’s stock valued at $470,000 after purchasing an additional 1,116 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Stock Up 10.2 %

The firm has a market cap of $5.72 billion, a PE ratio of 29.56, a PEG ratio of 2.40 and a beta of 0.74. The business’s 50 day moving average price is $87.66 and its 200 day moving average price is $78.88. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49.

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

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.