Brokerages Set Knife River Corporation (NYSE:KNF) Target Price at $98.00

Knife River Corporation (NYSE:KNF) has been assigned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $98.00.

KNF has been the subject of several recent research reports. Weiss Ratings cut Knife River from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, May 6th. Stephens boosted their target price on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. DA Davidson boosted their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Wells Fargo & Company decreased their target price on Knife River from $81.00 to $80.00 and set an “underweight” rating for the company in a research note on Wednesday, April 15th. Finally, B. Riley Financial initiated coverage on Knife River in a research note on Thursday, January 15th. They set a “buy” rating and a $92.00 target price for the company.

Knife River Stock Performance

Shares of KNF opened at $79.69 on Thursday. The stock has a 50-day simple moving average of $84.15 and a 200-day simple moving average of $78.24. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.31 and a current ratio of 2.67. The stock has a market capitalization of $4.52 billion, a PE ratio of 31.01, a PEG ratio of 1.47 and a beta of 0.55. Knife River has a 1 year low of $58.72 and a 1 year high of $102.87.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.42) by $0.02. The business had revenue of $410.13 million during the quarter, compared to analysts’ expectations of $387.06 million. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.21) EPS. On average, analysts predict that Knife River will post 3.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Knife River

Several institutional investors have recently added to or reduced their stakes in KNF. Baillie Gifford & Co. purchased a new stake in Knife River during the third quarter worth approximately $169,020,000. Capital World Investors acquired a new position in Knife River during the fourth quarter worth approximately $71,166,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in Knife River by 57.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock worth $124,821,000 after buying an additional 648,979 shares during the period. Norges Bank acquired a new position in Knife River during the fourth quarter worth approximately $32,753,000. Finally, Voss Capital LP acquired a new position in Knife River during the third quarter worth approximately $33,823,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

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.