Knife River (NYSE:KNF) Sets New 52-Week Low – What’s Next?

Knife River Corporation (NYSE:KNF) reached a new 52-week low on Wednesday. The company traded as low as $50.43 and last traded at $50.4390, with a volume of 422705 shares. The stock had previously closed at $52.68.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KNF. JPMorgan Chase & Co. lowered Knife River from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $80.00 to $73.00 in a research note on Wednesday, September 2nd. B. Riley Financial cut their target price on shares of Knife River from $105.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Stephens set a $80.00 price target on shares of Knife River in a research note on Wednesday, August 5th. Wells Fargo & Company lowered their price target on shares of Knife River from $73.00 to $62.00 and set an “equal weight” rating for the company in a report on Wednesday, September 9th. Finally, Zacks Research lowered shares of Knife River from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $78.29.

Knife River Price Performance

The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.24 and a beta of 0.38. The company has a 50 day moving average of $64.41 and a 200 day moving average of $75.85. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The business had revenue of $938.59 million during the quarter, compared to analyst estimates of $931.39 million. During the same period in the previous year, the business posted $0.89 earnings per share. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts forecast that Knife River Corporation will post 2.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Trust Co. of Vermont acquired a new stake in shares of Knife River in the second quarter worth approximately $39,000. Hantz Financial Services Inc. increased its position in Knife River by 66.3% during the fourth quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after purchasing an additional 226 shares during the last quarter. Allworth Financial LP raised its stake in Knife River by 74.6% during the second quarter. Allworth Financial LP now owns 590 shares of the company’s stock worth $49,000 after purchasing an additional 252 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Knife River by 1,088.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after purchasing an additional 544 shares during the period. Finally, Harbor Investment Advisory LLC purchased a new position in Knife River during the second quarter worth approximately $50,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

About Knife River

Knife River Corporation is a construction materials and contracting company that produces and supplies essential materials for public and private infrastructure projects. Its principal products include construction aggregates, ready-mix concrete and asphalt, along with related paving and contracting services.

The company operates an integrated network of quarries, sand and gravel sites, asphalt and concrete plants, and construction operations. Its services support highways, bridges, airports, commercial developments, residential projects and other infrastructure improvements.