Knife River (NYSE:KNF) Sets New 52-Week High on Analyst Upgrade

Knife River Co. (NYSE:KNF) shares reached a new 52-week high during trading on Wednesday after DA Davidson raised their price target on the stock from $90.00 to $110.00. DA Davidson currently has a buy rating on the stock. Knife River traded as high as $99.80 and last traded at $99.80, with a volume of 3363 shares changing hands. The stock had previously closed at $91.66.

Other equities research analysts have also recently issued reports about the company. Loop Capital lowered their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Oppenheimer lifted their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Hedge Funds Weigh In On Knife River

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its stake in shares of Knife River by 129.4% in the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after acquiring an additional 176 shares during the last quarter. Huntington National Bank increased its stake in Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after purchasing an additional 293 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Knife River in the second quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Knife River during the second quarter worth $43,000. Finally, Sittner & Nelson LLC grew its holdings in shares of Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after buying an additional 150 shares during the period. Institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

The firm has a market cap of $5.72 billion, a price-to-earnings ratio of 28.96, a P/E/G ratio of 2.20 and a beta of 0.74. The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $88.61 and a 200 day moving average of $79.18.

Knife River (NYSE:KNF) last announced 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). The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business posted $2.58 earnings per share. Equities research analysts predict that Knife River Co. will post 3.68 EPS for the current fiscal 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.