Investment analysts at Royal Bank Of Canada began coverage on shares of Knife River (NYSE:KNF – Get Free Report) in a research note issued on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating and a $129.00 price target on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 60.55% from the company’s current price.
KNF has been the subject of a number of other research reports. Wells Fargo & Company increased 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. DA Davidson cut their price target on Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, June 10th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $117.17.
Check Out Our Latest Stock Report on Knife River
Knife River Stock Performance
Knife River (NYSE:KNF – Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). Knife River had a net margin of 6.18% and a return on equity of 12.83%. The firm had revenue of $353.50 million during the quarter, compared to analysts’ expectations of $343.98 million. During the same quarter in the previous year, the business posted ($0.84) EPS. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. As a group, equities research analysts anticipate that Knife River will post 4.11 EPS for the current fiscal year.
Institutional Trading of Knife River
Several hedge funds have recently made changes to their positions in KNF. Fifth Third Bancorp raised its position in shares of Knife River by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company’s stock valued at $60,000 after buying an additional 106 shares during the period. Arizona State Retirement System lifted its stake in shares of Knife River by 0.8% in the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock valued at $1,586,000 after purchasing an additional 124 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Knife River by 58.6% during the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after purchasing an additional 157 shares during the period. Focus Partners Advisor Solutions LLC increased its position in shares of Knife River by 2.0% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company’s stock worth $722,000 after purchasing an additional 159 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in Knife River by 6.7% in the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company’s stock valued at $232,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.
About Knife River
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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