Knife River (NYSE:KNF) Stock Price Down 5.6% After Analyst Downgrade

Knife River Co. (NYSE:KNFGet Free Report)’s stock price was down 5.6% during trading on Wednesday after DA Davidson lowered their price target on the stock from $125.00 to $120.00. DA Davidson currently has a buy rating on the stock. Knife River traded as low as $84.88 and last traded at $84.19. Approximately 622,871 shares changed hands during trading, an increase of 34% from the average daily volume of 464,794 shares. The stock had previously closed at $89.18.

A number of other brokerages have also recently issued reports on KNF. Wells Fargo & Company boosted their price objective on shares of Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Stephens restated an “overweight” rating and set a $120.00 price objective on shares of Knife River in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $114.80.

Get Our Latest Stock Report on Knife River

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KNF. Price T Rowe Associates Inc. MD grew its holdings in Knife River by 4,145.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock valued at $150,456,000 after purchasing an additional 1,628,535 shares during the period. Alliancebernstein L.P. boosted its holdings 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 valued at $111,965,000 after buying an additional 983,223 shares during the period. American Century Companies Inc. boosted its holdings in shares of Knife River by 1,200.8% in the fourth quarter. American Century Companies Inc. now owns 887,680 shares of the company’s stock valued at $90,224,000 after buying an additional 819,439 shares during the period. Norges Bank acquired a new position in shares of Knife River in the fourth quarter valued at approximately $66,631,000. Finally, Capital Research Global Investors boosted its holdings in shares of Knife River by 45.2% in the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after buying an additional 603,170 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Price Performance

The company has a market cap of $4.77 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.36 and a beta of 0.84. 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 company’s fifty day moving average price is $93.35 and its two-hundred day moving average price is $97.17.

Knife River (NYSE:KNFGet Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The company had revenue of $353.50 million during the quarter, compared to analyst estimates of $343.98 million. Knife River had a net margin of 6.96% and a return on equity of 14.82%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.84) EPS. On average, equities research analysts forecast that Knife River Co. will post 4.11 EPS for the current fiscal year.

About Knife River

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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.

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