Knife River (NYSE:KNF) Sets New 52-Week Low – Time to Sell?

Knife River Corporation (NYSE:KNF) shares reached a new 52-week low on Wednesday . The company traded as low as $58.64 and last traded at $58.59, with a volume of 336720 shares. The stock had previously closed at $61.43.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada dropped their price target on Knife River from $107.00 to $103.00 and set an “outperform” rating for the company in a research report on Wednesday, August 5th. Citigroup lowered Knife River to a “cautious” rating in a research note on Wednesday. Oppenheimer started coverage on Knife River in a report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Monday, August 24th. Finally, JPMorgan Chase & Co. lowered Knife River from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $80.00 to $73.00 in a report on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.29.

Knife River Price Performance

The stock’s fifty day moving average price is $72.31 and its 200-day moving average price is $79.12. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.29 and a beta of 0.38. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). Knife River had a net margin of 4.23% and a return on equity of 8.73%. The business had revenue of $938.57 million during the quarter, compared to analyst estimates of $931.39 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts forecast that Knife River Corporation will post 2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knife River

Several large investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of Knife River during the 2nd quarter worth about $151,000. NewEdge Advisors LLC boosted its stake in Knife River by 4.6% during the second quarter. NewEdge Advisors LLC now owns 24,881 shares of the company’s stock worth $2,081,000 after buying an additional 1,091 shares during the period. Baird Financial Group Inc. boosted its stake in Knife River by 1.2% during the second quarter. Baird Financial Group Inc. now owns 101,976 shares of the company’s stock worth $8,530,000 after buying an additional 1,254 shares during the period. Allworth Financial LP increased its position in shares of Knife River by 74.6% during the second quarter. Allworth Financial LP now owns 590 shares of the company’s stock valued at $49,000 after acquiring an additional 252 shares during the last quarter. Finally, Nykredit A S acquired a new stake in shares of Knife River during the second quarter valued at about $121,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

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.