Knife River Corporation (NYSE:KNF) Given Consensus Rating of “Moderate Buy” by Brokerages

Knife River Corporation (NYSE:KNF) has been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $97.2857.

Several brokerages have recently issued reports on KNF. Wells Fargo & Company reduced their target price on Knife River from $81.00 to $80.00 and set an “underweight” rating on the stock in a report on Wednesday, April 15th. DA Davidson lifted their target price on Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, February 18th. Wall Street Zen raised Knife River from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. Oppenheimer began coverage on Knife River in a report on Thursday. They issued an “outperform” rating and a $95.00 target price on the stock. Finally, Royal Bank Of Canada lifted their target price on Knife River from $106.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, February 18th.

Institutional Investors Weigh In On Knife River

Several large investors have recently added to or reduced their stakes in KNF. Capital World Investors bought a new stake in Knife River during the fourth quarter worth approximately $71,166,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Knife River by 57.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock worth $124,821,000 after acquiring an additional 648,979 shares during the last quarter. Norges Bank bought a new stake in Knife River during the fourth quarter worth approximately $32,753,000. Voss Capital LP bought a new stake in Knife River during the third quarter worth approximately $33,823,000. Finally, Paradice Investment Management LLC bought a new stake in Knife River during the fourth quarter worth approximately $22,001,000. 80.11% of the stock is owned by institutional investors.

Knife River Price Performance

NYSE:KNF opened at $78.59 on Monday. The company has a quick ratio of 1.31, a current ratio of 2.67 and a debt-to-equity ratio of 0.91. The business’s 50-day simple moving average is $82.53 and its two-hundred day simple moving average is $79.11. The stock has a market cap of $4.46 billion, a PE ratio of 30.58, a P/E/G ratio of 1.41 and a beta of 0.41. Knife River has a 52 week low of $58.72 and a 52 week high of $96.12.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($1.40) EPS for the quarter, beating analysts’ consensus estimates of ($1.42) by $0.02. Knife River had a return on equity of 9.35% and a net margin of 4.58%.The business had revenue of $410.13 million for the quarter, compared to analysts’ expectations of $387.06 million. During the same period last year, the firm earned ($1.21) earnings per share. The business’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, analysts forecast that Knife River will post 3.32 EPS for the current fiscal 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.