Knife River (NYSE:KNF) Price Target Lowered to $75.00 at Wells Fargo & Company

Knife River (NYSE:KNF) had its price target trimmed by Wells Fargo & Company from $81.00 to $75.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Knife River from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. DA Davidson dropped their target price on shares of Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. initiated coverage on Knife River in a report on Thursday, December 4th. They issued a “neutral” rating and a $83.00 price target for the company. B. Riley assumed coverage on shares of Knife River in a research report on Thursday, January 15th. They set a “buy” rating and a $92.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research note on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Knife River has an average rating of “Moderate Buy” and an average target price of $95.71.

Knife River Trading Up 1.2%

KNF stock opened at $69.75 on Thursday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 1.16 and a beta of 0.47. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $74.91 and a 200-day simple moving average of $75.71. Knife River has a 52 week low of $58.72 and a 52 week high of $106.89.

Knife River (NYSE:KNF) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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 expect that Knife River will post 4.11 EPS for the current year.

Institutional Trading of Knife River

A number of hedge funds have recently bought and sold shares of the company. Comerica Bank lifted its holdings in shares of Knife River by 6.7% in the fourth quarter. Comerica Bank now owns 24,670 shares of the company’s stock valued at $1,736,000 after purchasing an additional 1,558 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in Knife River by 8.5% in the fourth quarter. Pictet Asset Management Holding SA now owns 9,086 shares of the company’s stock worth $639,000 after purchasing an additional 708 shares in the last quarter. Paradice Investment Management LLC bought a new stake in shares of Knife River during the 4th quarter worth about $22,001,000. Teacher Retirement System of Texas boosted its position in Knife River by 87.8% during the fourth quarter. Teacher Retirement System of Texas now owns 255,557 shares of the company’s stock worth $17,978,000 after purchasing an additional 119,452 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Knife River by 325.5% during the 4th quarter. M&T Bank Corp now owns 297,798 shares of the company’s stock worth $20,950,000 after buying an additional 227,804 shares during the period. 80.11% of the stock is owned by hedge funds and other institutional investors.

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.