Knife River’s (KNF) Equal Weight Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company restated their equal weight rating on shares of Knife River (NYSE:KNF) in a research note released on Tuesday morning, Marketbeat.com reports. The firm currently has a $81.00 price objective on the stock, up from their prior price objective of $75.00.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of Knife River in a report on Thursday, December 4th. They issued a “neutral” rating and a $83.00 target price for the company. UBS Group upgraded Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Royal Bank Of Canada cut their price objective on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. DA Davidson decreased their target price on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, October 1st. Finally, Oppenheimer dropped their target price on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.33.

Knife River Stock Up 1.5%

Shares of KNF opened at $80.17 on Tuesday. The company’s 50-day moving average price is $73.82 and its 200 day moving average price is $76.07. Knife River has a 12-month low of $58.72 and a 12-month high of $108.83. The company has a current ratio of 2.39, a quick ratio of 1.47 and a debt-to-equity ratio of 0.73. The firm has a market cap of $4.54 billion, a P/E ratio of 30.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.47.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.07. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. Knife River had a net margin of 4.87% and a return on equity of 9.97%. On average, sell-side analysts forecast that Knife River will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

Hedge funds have recently bought and sold shares of the stock. Brady Martz Wealth Solutions LLC grew its position in shares of Knife River by 2.3% during the second quarter. Brady Martz Wealth Solutions LLC now owns 6,786 shares of the company’s stock worth $554,000 after buying an additional 152 shares in the last quarter. Unified Investment Management raised its holdings in Knife River by 2.6% in the second quarter. Unified Investment Management now owns 5,968 shares of the company’s stock valued at $487,000 after acquiring an additional 153 shares in the last quarter. Cornerstone Investment Partners LLC lifted its stake in Knife River by 5.8% in the third quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company’s stock worth $226,000 after acquiring an additional 161 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Knife River by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 13,292 shares of the company’s stock worth $1,085,000 after acquiring an additional 167 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Knife River by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock worth $367,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company’s stock.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.