Knife River (NYSE:KNF) Stock Price Down 6.3% – Time to Sell?

Knife River Corporation (NYSE:KNF) was down 6.3% during trading on Monday . The stock traded as low as $87.76 and last traded at $87.12. 272,088 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 612,101 shares. The stock had previously closed at $92.96.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KNF. Wells Fargo & Company decreased their price target on Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price objective on shares of Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Oppenheimer started coverage on shares of Knife River in a report on Thursday, May 28th. They set an “outperform” rating and a $95.00 target price on the stock. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and a consensus target price of $97.29.

Knife River Stock Down 7.0%

The company has a 50 day moving average of $82.27 and a 200-day moving average of $80.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.67 and a quick ratio of 1.31. The company has a market cap of $4.91 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 1.66 and a beta of 0.41.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, May 5th. The company reported ($1.40) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The business had revenue of $410.13 million for the quarter, compared to analyst estimates of $387.06 million. During the same period in the prior year, the company earned ($1.21) EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts predict that Knife River Corporation will post 3.32 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

Institutional investors and hedge funds have recently bought and sold shares of the stock. McMillan Office Inc. bought a new stake in Knife River during the fourth quarter valued at approximately $36,000. Hantz Financial Services Inc. increased its holdings in shares of Knife River by 66.3% in the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after buying an additional 226 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Knife River by 1,088.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after buying an additional 544 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Knife River by 34.8% during the 4th quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock valued at $48,000 after buying an additional 177 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Knife River by 198.5% during the 4th quarter. Larson Financial Group LLC now owns 806 shares of the company’s stock valued at $57,000 after buying an additional 536 shares in the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.