Knife River Co. (NYSE:KNF) Given Consensus Recommendation of “Moderate Buy” by Analysts

Knife River Co. (NYSE:KNF) has been given a consensus rating of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $93.67.

A number of research firms have recently commented on KNF. Oppenheimer lifted their target price on Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. DA Davidson lifted their price objective on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Loop Capital reduced their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th.

Hedge Funds Weigh In On Knife River

Hedge funds have recently added to or reduced their stakes in the company. abrdn plc bought a new stake in shares of Knife River in the third quarter worth $22,934,000. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after purchasing an additional 224,373 shares during the last quarter. Swedbank AB purchased a new position in shares of Knife River in the first quarter worth approximately $9,730,000. M&G Plc bought a new stake in Knife River during the first quarter valued at approximately $9,289,000. Finally, Interval Partners LP purchased a new stake in Knife River during the second quarter valued at approximately $7,614,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Down 0.7 %

Shares of Knife River stock opened at $94.71 on Friday. The stock has a market capitalization of $5.36 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. Knife River has a 52 week low of $56.36 and a 52 week high of $103.33. The stock has a 50 day moving average price of $90.28 and a two-hundred day moving average price of $79.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the company earned $2.58 earnings per share. As a group, equities analysts anticipate that Knife River will post 3.57 earnings per share for the current fiscal year.

Knife River Company Profile

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.