Oppenheimer Forecasts Strong Price Appreciation for Knife River (NYSE:KNF) Stock

Knife River (NYSE:KNF) had its price objective boosted by Oppenheimer from $110.00 to $120.00 in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 17.29% from the company’s current price.

Other research analysts also recently issued research reports about the stock. DA Davidson increased their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Loop Capital dropped their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Knife River currently has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Knife River Trading Down 2.7 %

Shares of NYSE KNF opened at $102.31 on Friday. The firm’s 50 day moving average price is $97.36 and its 200-day moving average price is $83.72. Knife River has a 52-week low of $61.50 and a 52-week high of $107.96. 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 has a market cap of $5.79 billion, a PE ratio of 29.32, a P/E/G ratio of 2.90 and a beta of 0.70.

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

Hedge Funds Weigh In On Knife River

Institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its position in shares of Knife River by 165.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 38,160 shares of the company’s stock valued at $3,411,000 after purchasing an additional 23,779 shares during the period. Cerity Partners LLC raised its holdings in Knife River by 24.4% during the third quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock valued at $2,278,000 after acquiring an additional 5,004 shares during the period. Ausbil Investment Management Ltd lifted its position in shares of Knife River by 599.5% in the third quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock valued at $1,750,000 after acquiring an additional 16,780 shares in the last quarter. Chesapeake Capital Corp IL bought a new position in shares of Knife River in the third quarter worth about $567,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Knife River by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after acquiring an additional 5,791 shares during the period. 80.11% of the stock is owned by institutional investors.

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.