Loop Capital Issues Pessimistic Forecast for Knife River (NYSE:KNF) Stock Price

Knife River (NYSE:KNF) had its price objective decreased by analysts at Loop Capital from $105.00 to $100.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price objective suggests a potential downside of 0.55% from the company’s previous close.

Separately, Oppenheimer boosted their price objective on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One research 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 has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Knife River Stock Performance

NYSE KNF opened at $100.55 on Tuesday. The company’s 50 day simple moving average is $88.14 and its two-hundred day simple moving average is $79.03. The stock has a market capitalization of $5.69 billion, a PE ratio of 28.81, a P/E/G ratio of 2.20 and a beta of 0.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.49. Knife River has a 1 year low of $54.05 and a 1 year high of $103.14.

Knife River (NYSE:KNF) last posted its quarterly earnings data 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). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. Knife River had a net margin of 6.89% and a return on equity of 15.22%. Knife River’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. Analysts predict that Knife River will post 3.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knife River

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Knife River by 12.2% in the 2nd 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 during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Knife River by 5.3% in the 2nd quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after acquiring an additional 38,152 shares during the last quarter. Congress Asset Management Co. lifted its holdings in shares of Knife River by 10.7% in the 3rd quarter. Congress Asset Management Co. now owns 679,547 shares of the company’s stock worth $60,745,000 after acquiring an additional 65,930 shares during the last quarter. US Bancorp DE boosted its stake in shares of Knife River by 0.3% in the 3rd quarter. US Bancorp DE now owns 423,337 shares of the company’s stock valued at $37,842,000 after purchasing an additional 1,090 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Knife River by 37.5% during the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company’s stock valued at $26,949,000 after purchasing 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 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.