Wells Fargo & Company Reiterates Equal Weight Rating for Knife River (NYSE:KNF)

Knife River (NYSE:KNF)‘s stock had its “equal weight” rating reiterated by Wells Fargo & Company in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. They presently have a $81.00 target price on the stock, up from their previous target price of $75.00. Wells Fargo & Company‘s price objective indicates a potential upside of 3.07% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. UBS Group raised shares of Knife River to an “overweight” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. initiated coverage on shares of Knife River in a research report on Thursday, December 4th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Oppenheimer decreased their price target on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, October 1st. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.33.

Knife River Stock Down 1.0%

Shares of NYSE KNF opened at $78.59 on Tuesday. The company’s 50 day moving average price is $73.50 and its 200-day moving average price is $76.02. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39. Knife River has a 52-week low of $58.72 and a 52-week high of $108.83. The company has a market capitalization of $4.45 billion, a P/E ratio of 30.11, a price-to-earnings-growth ratio of 1.30 and a beta of 0.47.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. Knife River had a net margin of 4.87% and a return on equity of 9.97%. Equities analysts forecast that Knife River will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Knife River

Several large investors have recently added to or reduced their stakes in KNF. Hantz Financial Services Inc. increased its holdings in Knife River by 141.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Country Trust Bank purchased a new position in shares of Knife River during the second quarter valued at approximately $40,000. GHP Investment Advisors Inc. purchased a new stake in Knife River in the 2nd quarter valued at $48,000. Quent Capital LLC bought a new position in Knife River during the 3rd quarter valued at $47,000. Finally, Hilltop National Bank purchased a new position in Knife River during the 2nd quarter worth $52,000. Institutional investors own 80.11% of the company’s stock.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.