Knife River (NYSE:KNF) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Knife River (NYSE:KNF) in a report released on Monday, MarketBeat reports. The firm issued an overweight rating and a $102.00 price target on the stock.

A number of other equities research analysts have also issued reports on KNF. Stephens reissued an “overweight” rating and issued a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Oppenheimer upped their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Knife River has a consensus rating of “Buy” and a consensus target price of $110.40.

Knife River Stock Performance

Shares of KNF stock opened at $89.69 on Monday. Knife River has a 52-week low of $66.13 and a 52-week high of $108.83. The company’s 50 day moving average is $99.41 and its 200 day moving average is $95.47. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 2.36 and a beta of 0.88.

Knife River (NYSE:KNF) last posted its earnings results on Thursday, February 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $655.80 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. On average, sell-side analysts anticipate that Knife River will post 4.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KNF. Alliancebernstein L.P. increased its stake in shares of Knife River by 830.7% in the fourth quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after buying an additional 983,223 shares during the last quarter. American Century Companies Inc. boosted its position in Knife River by 1,200.8% during the 4th quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock worth $90,224,000 after acquiring an additional 819,439 shares during the period. Norges Bank acquired a new position in Knife River during the 4th quarter valued at about $66,631,000. Capital Research Global Investors raised its holdings in Knife River by 45.2% during the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock worth $196,829,000 after purchasing an additional 603,170 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of Knife River in the fourth quarter valued at $46,750,000. 80.11% of the stock is owned by institutional investors and hedge funds.

About Knife River

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.