Knife River (NYSE:KNF) Hits New 1-Year Low – Here’s What Happened

Knife River Corporation (NYSE:KNF)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $53.59 and last traded at $54.4810, with a volume of 1378992 shares traded. The stock had previously closed at $54.44.

Wall Street Analysts Forecast Growth

KNF has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a report on Monday, August 24th. Stephens set a $80.00 target price on Knife River in a report on Wednesday, August 5th. Wall Street Zen cut Knife River from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Oppenheimer assumed coverage on shares of Knife River in a research note on Thursday, May 28th. They set an “outperform” rating and a $95.00 price target on the stock. Finally, DA Davidson assumed coverage on Knife River in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.29.

Knife River Trading Up 0.9%

The stock has a 50 day moving average of $67.22 and a 200-day moving average of $76.84. The company has a market capitalization of $3.17 billion, a P/E ratio of 22.81, a P/E/G ratio of 1.15 and a beta of 0.38. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). The firm had revenue of $938.57 million during the quarter, compared to the consensus estimate of $931.39 million. Knife River had a return on equity of 8.73% and a net margin of 4.23%.The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, research analysts predict that Knife River Corporation will post 2.86 EPS for the current year.

Hedge Funds Weigh In On Knife River

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Knife River by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company’s stock valued at $119,579,000 after purchasing an additional 73,028 shares during the period. Geode Capital Management LLC boosted its stake in Knife River by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company’s stock worth $99,730,000 after purchasing an additional 9,125 shares during the period. Capital World Investors bought a new position in Knife River in the 4th quarter worth approximately $71,166,000. Voss Capital LP grew its holdings in Knife River by 61.4% during the 4th quarter. Voss Capital LP now owns 710,048 shares of the company’s stock valued at $49,952,000 after buying an additional 270,048 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Knife River during the fourth quarter valued at approximately $32,753,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

About Knife River

Knife River Corporation is a construction materials and contracting company that produces and supplies essential materials for public and private infrastructure projects. Its principal products include construction aggregates, ready-mix concrete and asphalt, along with related paving and contracting services.

The company operates an integrated network of quarries, sand and gravel sites, asphalt and concrete plants, and construction operations. Its services support highways, bridges, airports, commercial developments, residential projects and other infrastructure improvements.