Knife River Co. (NYSE:KNF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Knife River Co. (NYSE:KNF) have earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $93.67.

Several equities research analysts have commented on the stock. Loop Capital cut their price target on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Oppenheimer upped their target price on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. Finally, DA Davidson raised their price target on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th.

Institutional Investors Weigh In On Knife River

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC raised its position in shares of Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares during the period. Huntington National Bank grew its stake in Knife River by 586.0% in the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares during the last quarter. International Assets Investment Management LLC bought a new position in Knife River in the 2nd quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Knife River during the second quarter worth approximately $43,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Knife River during the third quarter worth approximately $60,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Up 2.3 %

KNF stock opened at $97.65 on Friday. The business has a 50-day moving average of $91.47 and a 200-day moving average of $80.11. Knife River has a fifty-two week low of $56.86 and a fifty-two week high of $103.33. The stock has a market capitalization of $5.53 billion, a P/E ratio of 27.56, a P/E/G ratio of 2.53 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 1.91.

Knife River (NYSE:KNF) last issued its quarterly 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 the consensus estimate 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 was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.58 earnings per share. On average, sell-side analysts anticipate that Knife River will post 3.57 earnings per share for the current fiscal year.

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.