Knife River (NYSE:KNF) Sets New 52-Week Low – What’s Next?

Knife River Corporation (NYSE:KNF)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $56.25 and last traded at $56.5460, with a volume of 710870 shares changing hands. The stock had previously closed at $57.63.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research report on Monday, August 24th. Stephens set a $80.00 price target on shares of Knife River in a research report on Wednesday, August 5th. JPMorgan Chase & Co. downgraded shares of Knife River from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $80.00 to $73.00 in a research note on Wednesday, September 2nd. DA Davidson began coverage on shares of Knife River in a report on Monday, August 24th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Oppenheimer began coverage on shares of Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.29.

Knife River Stock Performance

The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00. The company has a fifty day moving average price of $70.15 and a 200 day moving average price of $78.24. The stock has a market cap of $3.21 billion, a PE ratio of 23.08, a P/E/G ratio of 1.20 and a beta of 0.38.

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

Institutional Trading of Knife River

A number of institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new position in shares of Knife River in the second quarter worth $151,000. NewEdge Advisors LLC boosted its position in Knife River by 4.6% during the 2nd quarter. NewEdge Advisors LLC now owns 24,881 shares of the company’s stock valued at $2,081,000 after buying an additional 1,091 shares during the period. Baird Financial Group Inc. boosted its position in Knife River by 1.2% during the 2nd quarter. Baird Financial Group Inc. now owns 101,976 shares of the company’s stock valued at $8,530,000 after buying an additional 1,254 shares during the period. Allworth Financial LP boosted its position in Knife River by 74.6% during the 2nd quarter. Allworth Financial LP now owns 590 shares of the company’s stock valued at $49,000 after buying an additional 252 shares during the period. Finally, Nykredit A S bought a new stake in Knife River in the 2nd quarter worth $121,000. Hedge funds and other institutional investors own 80.11% of the company’s stock.

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.