Brokerages Set Knife River Co. (NYSE:KNF) Target Price at $77.67

Knife River Co. (NYSE:KNF) has been given a consensus recommendation of “Moderate Buy” by the six research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $81.60.

Separately, Stephens initiated coverage on Knife River in a report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price objective for the company.

Institutional Investors Weigh In On Knife River

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in Knife River in the fourth quarter valued at $40,548,000. Vanguard Group Inc. lifted its holdings in Knife River by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after acquiring an additional 503,892 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Knife River by 122.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock valued at $54,221,000 after acquiring an additional 450,574 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in Knife River by 48.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after acquiring an additional 373,359 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Knife River by 4,029.5% in the fourth quarter. Federated Hermes Inc. now owns 251,567 shares of the company’s stock valued at $16,649,000 after acquiring an additional 245,475 shares during the period. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Price Performance

KNF stock opened at $73.29 on Monday. The company has a market capitalization of $4.15 billion, a P/E ratio of 23.64, a PEG ratio of 2.89 and a beta of 0.83. Knife River has a twelve month low of $46.51 and a twelve month high of $83.78. The business has a 50 day simple moving average of $72.77 and a 200-day simple moving average of $73.94. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. The business had revenue of $806.90 million during the quarter, compared to the consensus estimate of $803.81 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 earnings per share. As a group, equities analysts anticipate that Knife River will post 3.51 EPS for the current year.

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.