Knife River (NYSE:KNF) Stock Price Up 6.3% – Time to Buy?

Knife River Co. (NYSE:KNF)’s stock price shot up 6.3% during trading on Friday . The company traded as high as $106.48 and last traded at $106.33. 118,734 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 389,647 shares. The stock had previously closed at $100.03.

Analysts Set New Price Targets

Several research firms have issued reports on KNF. DA Davidson upped their price target on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer raised their price target on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Loop Capital lowered their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Knife River has an average rating of “Moderate Buy” and an average price target of $95.33.

Knife River Trading Up 4.9 %

The firm has a market cap of $5.94 billion, a PE ratio of 30.07, a PEG ratio of 2.90 and a beta of 0.70. The firm has a fifty day simple moving average of $98.56 and a two-hundred day simple moving average of $84.53. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). The business had revenue of $1.11 billion during 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%. The business’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.58 EPS. Equities analysts forecast that Knife River Co. will post 3.49 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KNF. Harbor Capital Advisors Inc. boosted its position in shares of Knife River by 165.4% during the third quarter. Harbor Capital Advisors Inc. now owns 38,160 shares of the company’s stock valued at $3,411,000 after purchasing an additional 23,779 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Knife River by 24.4% during the 3rd quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock valued at $2,278,000 after buying an additional 5,004 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Knife River by 10.5% in the 3rd quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after buying an additional 39,991 shares during the period. Ausbil Investment Management Ltd grew its holdings in Knife River by 599.5% in the third quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock worth $1,750,000 after purchasing an additional 16,780 shares during the period. Finally, Chesapeake Capital Corp IL bought a new position in Knife River during the 3rd quarter valued at approximately $567,000. Institutional investors 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.