Royal Bank Of Canada Lowers Knife River (NYSE:KNF) Price Target to $105.00

Knife River (NYSE:KNF) had its target price cut by analysts at Royal Bank Of Canada from $115.00 to $105.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 49.55% from the stock’s previous close.

A number of other brokerages have also commented on KNF. DA Davidson cut their price target on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Oppenheimer cut their price target on Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 1st. Wells Fargo & Company upgraded Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 target price on the stock in a report on Tuesday. Finally, UBS Group upgraded Knife River to an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Knife River Stock Down 2.7%

Shares of NYSE KNF traded down $1.96 during mid-day trading on Thursday, reaching $70.21. 291,241 shares of the company traded hands, compared to its average volume of 605,179. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.57 and a current ratio of 2.39. The stock has a market cap of $3.98 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 5.58 and a beta of 0.53. Knife River has a fifty-two week low of $58.72 and a fifty-two week high of $108.83. The company’s fifty day moving average is $71.52 and its two-hundred day moving average is $82.20.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Knife River has set its FY 2025 guidance at EPS. On average, analysts expect that Knife River will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Knife River

Institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group raised its stake in Knife River by 31,200.0% in the first quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after buying an additional 312 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in Knife River by 141.8% in the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Knife River in the first quarter worth about $35,000. Country Trust Bank purchased a new stake in Knife River in the second quarter worth about $40,000. Finally, GHP Investment Advisors Inc. purchased a new stake in Knife River in the second quarter worth about $48,000. 80.11% of the stock is owned by institutional investors.

Knife River Company Profile

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.