Knife River Co. (NYSE:KNF) Receives $76.20 Consensus PT from Brokerages

Knife River Co. (NYSE:KNF) has received a consensus rating of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $76.20.

Several equities research analysts have issued reports on the stock. Oppenheimer lifted their target price on shares of Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Siebert Williams Shank lifted their target price on shares of Knife River from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Tuesday, December 26th. Loop Capital assumed coverage on shares of Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 target price for the company. Bank of America assumed coverage on shares of Knife River in a research note on Friday, January 5th. They set a “buy” rating and a $81.00 price target on the stock. Finally, Wolfe Research assumed coverage on shares of Knife River in a research note on Friday, March 8th. They set a “peer perform” rating on the stock.

Knife River Price Performance

KNF stock opened at $78.42 on Tuesday. The firm has a 50 day moving average of $73.26 and a 200-day moving average of $63.00. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. Knife River has a 12 month low of $33.67 and a 12 month high of $81.52. The firm has a market capitalization of $4.44 billion and a P/E ratio of -0.15.

Knife River (NYSE:KNF) last announced its earnings results on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.16. Knife River had a net margin of 6.46% and a return on equity of 15.98%. The business had revenue of $646.90 million during the quarter, compared to analyst estimates of $566.47 million. Knife River’s revenue was up 20.4% on a year-over-year basis. As a group, sell-side analysts predict that Knife River will post 3.5 earnings per share for the current fiscal year.

Institutional Trading of Knife River

Hedge funds have recently modified their holdings of the business. State of New Jersey Common Pension Fund D boosted its holdings in shares of Knife River by 87.6% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock valued at $2,408,000 after buying an additional 23,022 shares in the last quarter. Quadrature Capital Ltd bought a new position in Knife River in the 3rd quarter worth about $893,000. Geode Capital Management LLC bought a new position in Knife River in the 2nd quarter worth about $46,886,000. Planned Solutions Inc. bought a new position in Knife River in the 4th quarter worth about $53,000. Finally, Schonfeld Strategic Advisors LLC boosted its stake in Knife River by 19.7% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after purchasing an additional 184,192 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Knife River Company Profile

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.