Knife River Co. (NYSE:KNF) Receives $81.60 Consensus Target Price from Analysts

Shares of Knife River Co. (NYSE:KNF) have earned an average rating of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $86.60.

Separately, Oppenheimer raised their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday.

Knife River Trading Down 1.2 %

NYSE KNF opened at $91.50 on Monday. The company’s fifty day simple moving average is $84.36 and its 200-day simple moving average is $77.90. The stock has a market cap of $5.18 billion, a P/E ratio of 29.52, a PEG ratio of 2.17 and a beta of 0.82. Knife River has a 52 week low of $46.51 and a 52 week high of $95.85. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm had revenue of $806.90 million for the quarter, compared to analysts’ expectations of $803.81 million. During the same period last year, the business posted $1.00 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts predict that Knife River will post 3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Knife River

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new position in Knife River in the first quarter worth about $687,000. Swedbank AB acquired a new position in Knife River during the first quarter worth $9,730,000. Comerica Bank lifted its holdings in shares of Knife River by 59.2% during the first quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after acquiring an additional 15,848 shares during the period. Ontario Teachers Pension Plan Board boosted its stake in shares of Knife River by 34.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 31,051 shares of the company’s stock valued at $2,518,000 after purchasing an additional 7,988 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Knife River by 311.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock worth $1,009,000 after purchasing an additional 10,886 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

Knife River Company Profile

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.