Knife River (NYSE:KNF) Sets New 12-Month Low – Here’s Why

Knife River Corporation (NYSE:KNF) reached a new 52-week low on Tuesday . The company traded as low as $56.25 and last traded at $56.5460, with a volume of 710870 shares traded. The stock had previously closed at $57.63.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank Of Canada lowered their price target on Knife River from $107.00 to $103.00 and set an “outperform” rating on the stock in a report on Wednesday, August 5th. Stephens set a $80.00 price objective on shares of Knife River in a research report on Wednesday, August 5th. Oppenheimer began coverage on shares of Knife River in a report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price on the stock. Wall Street Zen downgraded shares of Knife River from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Citigroup lowered shares of Knife River to a “cautious” rating in a research report on Wednesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Knife River currently has a consensus rating of “Hold” and a consensus target price of $84.29.

Knife River Price Performance

The firm’s 50-day moving average price is $69.17 and its 200-day moving average price is $77.77. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3.16 billion, a PE ratio of 22.73, a PEG ratio of 1.18 and a beta of 0.38.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing the consensus estimate of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The company had revenue of $938.57 million during the quarter, compared to analysts’ expectations of $931.39 million. During the same quarter in the prior year, the business posted $0.89 EPS. The company’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Knife River Corporation will post 2.86 EPS for the current fiscal year.

Hedge Funds Weigh In On Knife River

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

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company that produces and supplies essential materials for public and private infrastructure projects. Its principal products include construction aggregates, ready-mix concrete and asphalt, along with related paving and contracting services.

The company operates an integrated network of quarries, sand and gravel sites, asphalt and concrete plants, and construction operations. Its services support highways, bridges, airports, commercial developments, residential projects and other infrastructure improvements.