Knife River Co. (NYSE:KNF) Receives $93.67 Average Price Target from Analysts

Shares of Knife River Co. (NYSE:KNF) have been given an average recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $93.67.

A number of equities analysts have issued reports on KNF shares. Oppenheimer increased their price target on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Loop Capital decreased their target price on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, DA Davidson boosted their price target on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th.

Institutional Trading of Knife River

Several large investors have recently made changes to their positions in KNF. abrdn plc purchased a new position in Knife River in the 3rd quarter valued at $22,934,000. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Knife River by 12.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after buying an additional 224,373 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Knife River during the third quarter worth about $10,267,000. Interval Partners LP purchased a new stake in Knife River during the 2nd quarter valued at about $7,614,000. Finally, Federated Hermes Inc. raised its holdings in Knife River by 37.5% in the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock valued at $26,949,000 after acquiring an additional 104,720 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Stock Performance

Shares of NYSE KNF opened at $105.22 on Tuesday. The company has a market capitalization of $5.96 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.89 and a beta of 0.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The company’s fifty day moving average price is $97.10 and its 200 day moving average price is $83.43. Knife River has a 1 year low of $61.50 and a 1 year high of $107.96.

Knife River (NYSE:KNF) last posted its earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the company earned $2.58 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. On average, research analysts predict that Knife River will post 3.49 earnings per share for the current year.

About Knife River

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.