Knife River Co. (NYSE:KNF) Sees Large Growth in Short Interest

Knife River Co. (NYSE:KNF) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 1,710,000 shares, a growth of 6.2% from the December 15th total of 1,610,000 shares. Based on an average daily trading volume, of 426,400 shares, the days-to-cover ratio is presently 4.0 days.

Knife River Stock Up 0.6 %

Shares of NYSE:KNF traded up $0.64 during trading on Monday, hitting $104.91. 316,460 shares of the company were exchanged, compared to its average volume of 465,777. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 2.20 and a beta of 0.78. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. Knife River has a fifty-two week low of $62.10 and a fifty-two week high of $108.39. The firm has a fifty day moving average price of $101.34 and a two-hundred day moving average price of $89.43.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the prior year, the company earned $2.58 earnings per share. Knife River’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Knife River will post 3.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KNF shares. 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 note on Tuesday, November 5th. Oppenheimer increased their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, DA Davidson boosted their target price on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and a consensus price target of $103.75.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in Knife River by 138.6% in the 2nd quarter. American Century Companies Inc. now owns 65,946 shares of the company’s stock worth $4,625,000 after purchasing an additional 38,313 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Knife River in the second quarter valued at approximately $96,000. Envestnet Asset Management Inc. raised its holdings in Knife River by 122.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 31,518 shares of the company’s stock valued at $2,211,000 after buying an additional 17,328 shares during the last quarter. Renaissance Technologies LLC boosted its position in Knife River by 16.1% during the 2nd quarter. Renaissance Technologies LLC now owns 185,000 shares of the company’s stock worth $12,976,000 after buying an additional 25,600 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in Knife River by 306.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 57,661 shares of the company’s stock worth $4,044,000 after acquiring an additional 43,486 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

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.