JPMorgan Chase & Co. Boosts Knife River (NYSE:KNF) Price Target to $90.00

Knife River (NYSE:KNF) had its target price lifted by investment analysts at JPMorgan Chase & Co. from $83.00 to $90.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 7.22% from the company’s previous close.

Other analysts also recently issued reports about the company. Stephens raised their target price on Knife River from $86.00 to $105.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Knife River from a “sell” rating to a “hold” rating in a report on Monday, February 23rd. B. Riley Financial 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. Royal Bank Of Canada boosted their target price on shares of Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and a consensus price target of $97.43.

Knife River Price Performance

KNF traded down $3.71 during trading on Thursday, reaching $83.94. The company’s stock had a trading volume of 528,274 shares, compared to its average volume of 575,003. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 30.41, a PEG ratio of 2.04 and a beta of 0.27. The firm has a fifty day simple moving average of $79.05 and a two-hundred day simple moving average of $75.49. Knife River has a 1 year low of $58.72 and a 1 year high of $103.18. The company has a quick ratio of 1.39, a current ratio of 2.54 and a debt-to-equity ratio of 0.70.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, February 17th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The business had revenue of $755.06 million during the quarter, compared to analyst estimates of $726.60 million. During the same period in the prior year, the business earned $0.41 earnings per share. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, analysts anticipate that Knife River will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Knife River

Large investors have recently made changes to their positions in the stock. DMKC Advisory Services LLC boosted its position in shares of Knife River by 4.2% during the 4th quarter. DMKC Advisory Services LLC now owns 3,762 shares of the company’s stock worth $265,000 after purchasing an additional 150 shares during the period. Cornerstone Investment Partners LLC raised its position in Knife River by 5.8% in the third quarter. Cornerstone Investment Partners LLC now owns 2,941 shares of the company’s stock valued at $226,000 after purchasing an additional 161 shares during the period. TIAA Trust National Association lifted its stake in Knife River by 5.6% during the fourth quarter. TIAA Trust National Association now owns 3,146 shares of the company’s stock worth $221,000 after purchasing an additional 166 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Knife River by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 4,497 shares of the company’s stock worth $367,000 after buying an additional 170 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Knife River by 34.8% during the fourth quarter. GAMMA Investing LLC now owns 685 shares of the company’s stock worth $48,000 after buying an additional 177 shares during the period. 80.11% of the stock is currently owned by institutional investors and hedge funds.

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.