Brokerages Set Knife River Corporation (NYSE:KNF) PT at $97.14

Knife River Corporation (NYSE:KNF) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $97.1429.

KNF has been the subject of a number of recent analyst reports. Oppenheimer assumed coverage on Knife River in a report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Wells Fargo & Company raised their price objective on shares of Knife River from $80.00 to $81.00 and gave the company an “underweight” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada lowered their target price on shares of Knife River from $109.00 to $107.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. 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. Finally, Zacks Research upgraded Knife River from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd.

Institutional Trading of Knife River

A number of institutional investors have recently bought and sold shares of the company. Capital World Investors acquired a new position in shares of Knife River during the 4th quarter worth $71,166,000. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Knife River by 57.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock valued at $124,821,000 after acquiring an additional 648,979 shares during the last quarter. Norges Bank acquired a new stake in Knife River in the 4th quarter valued at about $32,753,000. Paradice Investment Management LLC purchased a new position in Knife River during the 4th quarter valued at about $22,001,000. Finally, Voss Capital LP increased its holdings in Knife River by 61.4% during the 4th quarter. Voss Capital LP now owns 710,048 shares of the company’s stock valued at $49,952,000 after acquiring an additional 270,048 shares in the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Up 0.3%

Shares of Knife River stock opened at $78.33 on Tuesday. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.37. Knife River has a 52-week low of $58.72 and a 52-week high of $96.28. The company’s 50-day simple moving average is $80.14 and its 200-day simple moving average is $81.46. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.02. The firm had revenue of $410.13 million during the quarter, compared to the consensus estimate of $387.06 million. Knife River had a net margin of 4.58% and a return on equity of 9.35%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.21) earnings per share. As a group, equities research analysts anticipate that Knife River will post 3.32 earnings per share for the current year.

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.