Knife River (NYSE:KNF) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Knife River (NYSE:KNF) had its price objective lowered by analysts at JPMorgan Chase & Co. from $73.00 to $63.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 27.98% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company cut their price target on shares of Knife River from $62.00 to $54.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Monday, August 24th. B. Riley Financial lowered their price objective on shares of Knife River from $105.00 to $65.00 and set a “buy” rating on the stock in a research report on Friday, September 25th. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a research report on Friday. Finally, Oppenheimer cut their target price on shares of Knife River from $90.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Knife River has a consensus rating of “Hold” and a consensus target price of $69.29.

Knife River Trading Down 0.4%

KNF traded down $0.21 during trading on Tuesday, reaching $49.23. The company had a trading volume of 148,895 shares, compared to its average volume of 693,371. The firm’s 50-day simple moving average is $59.70 and its 200 day simple moving average is $73.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.16 and a beta of 0.46. Knife River has a 12-month low of $48.71 and a 12-month high of $96.28.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). Knife River had a net margin of 4.23% and a return on equity of 8.73%. The firm had revenue of $938.59 million for the quarter, compared to analysts’ expectations of $931.39 million. During the same period in the prior year, the company posted $0.89 earnings per share. Knife River’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Knife River will post 2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KNF. Dimensional Fund Advisors LP grew its holdings in shares of Knife River by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company’s stock valued at $119,579,000 after acquiring an additional 73,028 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Knife River by 19.0% in the first quarter. Bank of America Corp DE now owns 392,534 shares of the company’s stock worth $32,050,000 after acquiring an additional 62,592 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Knife River in the second quarter worth $21,242,000. Gabelli Funds LLC raised its holdings in shares of Knife River by 8.8% during the first quarter. Gabelli Funds LLC now owns 123,530 shares of the company’s stock worth $10,086,000 after acquiring an additional 9,990 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Knife River by 0.4% during the first quarter. Swiss National Bank now owns 112,098 shares of the company’s stock worth $9,153,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company serving public and private infrastructure markets across the western and north-central United States. The company produces and supplies essential construction materials, including crushed stone, sand and gravel, ready-mix concrete, asphalt and related products.

In addition to materials production, Knife River provides construction services such as asphalt paving, concrete construction, site development, excavation and other heavy civil work.