Knife River Corporation (NYSE:KNF) Stock Has Average Price Target of $69.29 According to Brokerages

Shares of Knife River Corporation (NYSE:KNF) have been given a consensus rating of “Hold” by the twelve ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $69.29.

A number of analysts recently weighed in on the stock. Stephens set a $80.00 price target on shares of Knife River in a research report on Wednesday, August 5th. B. Riley Financial dropped their price target on shares of Knife River from $105.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, September 25th. DA Davidson initiated coverage on Knife River in a research note on Monday, August 24th. They set a “buy” rating and a $85.00 price objective on the stock. Citigroup downgraded shares of Knife River to a “cautious” rating in a research report on Wednesday, September 9th. Finally, Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a report on Saturday, August 8th.

Knife River Stock Down 0.2%

Shares of NYSE KNF opened at $57.50 on Thursday. The stock has a market capitalization of $3.26 billion, a PE ratio of 23.47, a P/E/G ratio of 1.34 and a beta of 0.46. 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 firm has a fifty day moving average of $55.73 and a 200-day moving average of $74.07. Knife River has a 52-week low of $47.79 and a 52-week high of $96.28.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%. The firm had revenue of $938.59 million during the quarter, compared to analysts’ expectations of $931.39 million. During the same quarter last year, the business earned $0.89 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Knife River will post 2.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KNF. William Mack & Associates Inc. acquired a new position in shares of Knife River during the third quarter valued at approximately $34,000. Trust Co. of Vermont bought a new stake in Knife River during the second quarter worth approximately $39,000. Signaturefd LLC lifted its position in Knife River by 267.1% in the third quarter. Signaturefd LLC now owns 826 shares of the company’s stock worth $42,000 after purchasing an additional 601 shares during the period. Allworth Financial LP lifted its position in Knife River by 74.6% in the second quarter. Allworth Financial LP now owns 590 shares of the company’s stock worth $49,000 after purchasing an additional 252 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new stake in Knife River in the second quarter worth approximately $50,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

About Knife River

Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.

Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.

Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.