Knife River (NYSE:KNF) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Knife River (NYSE:KNF) from a hold rating to a sell rating in a research report released on Saturday.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Knife River from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of Knife River from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Weiss Ratings upgraded shares of Knife River from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 27th. Royal Bank Of Canada lowered their price target on shares of Knife River from $107.00 to $103.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. Finally, Oppenheimer assumed coverage on shares of Knife River in a research report on Thursday, May 28th. They set an “outperform” rating and a $95.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $89.71.

Knife River Stock Up 1.3%

Shares of Knife River stock opened at $67.64 on Friday. The business’s 50 day simple moving average is $79.50 and its 200 day simple moving average is $80.95. Knife River has a 52-week low of $58.72 and a 52-week high of $96.28. The firm has a market cap of $3.84 billion, a PE ratio of 27.61, a P/E/G ratio of 1.24 and a beta of 0.42. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). The firm had revenue of $938.57 million for the quarter, compared to analyst estimates of $931.39 million. Knife River had a return on equity of 8.73% and a net margin of 4.23%.The company’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. On average, analysts predict that Knife River will post 3.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Knife River

Hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. grew its position in shares of Knife River by 6.9% in the first quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $151,000 after purchasing an additional 119 shares during the last quarter. DMKC Advisory Services LLC increased its stake in shares of Knife River by 4.2% during the fourth quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock worth $265,000 after purchasing an additional 150 shares during the period. TIAA Trust National Association lifted its holdings in Knife River by 5.6% during the 4th quarter. TIAA Trust National Association now owns 3,146 shares of the company’s stock worth $221,000 after purchasing an additional 166 shares during the last quarter. Lido Advisors LLC lifted its holdings in Knife River by 6.0% during the 1st quarter. Lido Advisors LLC now owns 2,949 shares of the company’s stock worth $241,000 after purchasing an additional 167 shares during the last quarter. Finally, Crossmark Global Holdings Inc. boosted its stake in Knife River by 6.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock valued at $285,000 after purchasing an additional 220 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.