Knife River Corporation (NYSE:KNF) Stock Has Average Target Price of $78.29 According to Brokerages

Knife River Corporation (NYSE:KNF) has been given an average recommendation of “Hold” by the eleven analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $70.71.

KNF has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Knife River from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. DA Davidson started coverage on shares of Knife River in a research report on Monday, August 24th. They issued a “buy” rating and a $85.00 price objective on the stock. Citigroup downgraded shares of Knife River to a “cautious” rating in a research report on Wednesday, September 9th. Royal Bank Of Canada lowered shares of Knife River from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $103.00 to $58.00 in a report on Friday. Finally, Zacks Research cut shares of Knife River from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 1st.

Knife River Stock Down 4.6%

KNF stock opened at $49.88 on Friday. The firm has a market cap of $2.83 billion, a PE ratio of 20.36, a PEG ratio of 1.16 and a beta of 0.46. Knife River has a one year low of $49.15 and a one year high of $96.28. The firm’s 50 day moving average price is $60.29 and its 200-day moving average price is $74.23. 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 posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.36). The firm had revenue of $938.59 million during the quarter, compared to analysts’ expectations of $931.39 million. Knife River had a net margin of 4.23% and a return on equity of 8.73%. Knife River’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, equities research analysts anticipate that Knife River will post 2.55 EPS for the current year.

Institutional Trading of Knife River

A number of institutional investors have recently bought and sold shares of KNF. Trust Co. of Vermont purchased a new position in shares of Knife River in the 2nd quarter valued at about $39,000. Hantz Financial Services Inc. raised its position in shares of Knife River by 66.3% during the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after acquiring an additional 226 shares in the last quarter. Allworth Financial LP raised its position in shares of Knife River by 74.6% during the 2nd quarter. Allworth Financial LP now owns 590 shares of the company’s stock worth $49,000 after acquiring an additional 252 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in Knife River by 1,088.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after purchasing an additional 544 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in Knife River during the second quarter worth approximately $50,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

About Knife River

Knife River Corporation is a construction materials and contracting company serving public and private infrastructure markets across the western and north-central United States. The company produces and supplies essential construction materials, including crushed stone, sand and gravel, ready-mix concrete, asphalt and related products.

In addition to materials production, Knife River provides construction services such as asphalt paving, concrete construction, site development, excavation and other heavy civil work.