Knife River (NYSE:KNF) Hits New 52-Week Low – Here’s Why

Shares of Knife River Corporation (NYSE:KNF) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $61.85 and last traded at $62.41, with a volume of 726899 shares. The stock had previously closed at $62.85.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company initiated coverage on Knife River in a research report on Tuesday, October 7th. They set a “cautious” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a report on Wednesday, October 8th. Oppenheimer cut their price target on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, October 1st. Finally, DA Davidson cut their target price on Knife River from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, October 1st. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $106.83.

Knife River Price Performance

The company has a market capitalization of $3.54 billion, a PE ratio of 23.20, a P/E/G ratio of 5.30 and a beta of 0.57. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The stock has a fifty day simple moving average of $75.08 and a 200-day simple moving average of $83.64.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.38). The business had revenue of $833.80 million for the quarter, compared to analysts’ expectations of $902.26 million. Knife River had a return on equity of 10.58% and a net margin of 5.20%.The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. Equities analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current year.

Institutional Trading of Knife River

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its position in shares of Knife River by 0.6% during the second quarter. State Street Corp now owns 2,101,198 shares of the company’s stock worth $171,542,000 after purchasing an additional 12,308 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Knife River by 4,145.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock valued at $150,456,000 after acquiring an additional 1,628,535 shares during the period. Geode Capital Management LLC increased its position in Knife River by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company’s stock valued at $113,960,000 after acquiring an additional 15,464 shares during the period. Invesco Ltd. increased its position in Knife River by 2.9% in the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company’s stock valued at $103,914,000 after acquiring an additional 35,900 shares during the period. Finally, Alliancebernstein L.P. increased its position in Knife River by 7.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company’s stock valued at $106,429,000 after acquiring an additional 78,209 shares during the period. Institutional investors and hedge funds 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.