Short Interest in Knife River Co. (NYSE:KNF) Increases By 9.2%

Knife River Co. (NYSE:KNF) was the recipient of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 1,300,000 shares, an increase of 9.2% from the October 31st total of 1,190,000 shares. Based on an average daily volume of 376,900 shares, the short-interest ratio is currently 3.4 days.

Knife River Stock Up 1.1 %

Shares of KNF opened at $103.52 on Wednesday. The business’s 50 day simple moving average is $94.96 and its 200-day simple moving average is $82.01. Knife River has a one year low of $60.04 and a one year high of $105.63. The company has a market capitalization of $5.86 billion, a P/E ratio of 29.66, a PEG ratio of 2.75 and a beta of 0.71. 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 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). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter in the previous year, the company posted $2.58 EPS. Knife River’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, sell-side analysts predict that Knife River will post 3.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently issued reports on KNF. Oppenheimer increased their price target on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. Loop Capital lowered their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, DA Davidson increased their price objective on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.67.

Institutional Investors Weigh In On Knife River

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in shares of Knife River by 10.5% during the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock valued at $38,201,000 after purchasing an additional 39,991 shares during the last quarter. Tidal Investments LLC lifted its holdings in Knife River by 125.7% during the 3rd quarter. Tidal Investments LLC now owns 9,623 shares of the company’s stock worth $860,000 after buying an additional 5,360 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Knife River in the 3rd quarter valued at $365,000. Geode Capital Management LLC increased its stake in shares of Knife River by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after buying an additional 26,198 shares during the period. Finally, Barclays PLC raised its position in shares of Knife River by 156.2% during the third quarter. Barclays PLC now owns 170,101 shares of the company’s stock worth $15,205,000 after acquiring an additional 103,713 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

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.