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

Knife River (NYSE:KNF) had its target price increased by Oppenheimer from $110.00 to $120.00 in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

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

Knife River Stock Down 2.7 %

Knife River stock opened at $102.31 on Friday. The stock’s fifty day moving average is $97.36 and its two-hundred day moving average is $83.72. The stock 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 has a 1-year low of $61.50 and a 1-year high of $107.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91.

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

Institutional Investors Weigh In On Knife River

Several hedge funds have recently made changes to their positions in KNF. abrdn plc purchased a new stake in Knife River during the 3rd quarter valued at approximately $22,934,000. Barrow Hanley Mewhinney & Strauss LLC increased its holdings 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 valued at $144,785,000 after purchasing an additional 224,373 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Knife River during the third quarter worth approximately $10,267,000. Interval Partners LP acquired a new stake in shares of Knife River during the second quarter worth $7,614,000. Finally, Federated Hermes Inc. grew its position 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 buying an additional 104,720 shares during the last quarter. Institutional investors and hedge funds 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 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.