Knife River Corporation (NYSE:KNF) Receives Average Rating of “Moderate Buy” from Brokerages

Knife River Corporation (NYSE:KNF) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $96.5714.

Several research analysts have commented on KNF shares. B. Riley initiated coverage on shares of Knife River in a report on Thursday, January 15th. They issued a “buy” rating and a $92.00 price objective for the company. DA Davidson reduced their price target on shares of Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. began coverage on shares of Knife River in a research note on Thursday, December 4th. They issued a “neutral” rating and a $83.00 price target for the company. UBS Group raised Knife River to an “overweight” rating in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada reduced their target price on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th.

Hedge Funds Weigh In On Knife River

Institutional investors have recently added to or reduced their stakes in the company. Hantz Financial Services Inc. lifted its position in Knife River by 141.8% during the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the period. Country Trust Bank purchased a new position in Knife River during the 2nd quarter valued at about $40,000. GHP Investment Advisors Inc. purchased a new position in Knife River during the 2nd quarter valued at about $48,000. Quent Capital LLC bought a new stake in Knife River during the third quarter worth about $47,000. Finally, Hilltop National Bank purchased a new stake in Knife River in the second quarter worth about $52,000. Institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

Shares of KNF stock opened at $73.08 on Tuesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. Knife River has a fifty-two week low of $58.72 and a fifty-two week high of $106.89. The firm has a market cap of $4.14 billion, a P/E ratio of 28.00, a P/E/G ratio of 1.21 and a beta of 0.47. The business’s 50 day moving average price is $74.90 and its 200-day moving average price is $75.88.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 9.97% and a net margin of 4.87%. On average, equities research analysts anticipate that Knife River will post 4.11 earnings per share for the current year.

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.