Knife River (NYSE:KNF) Hits New 1-Year Low – Here’s What Happened

Knife River Corporation (NYSE:KNF)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $58.64 and last traded at $58.59, with a volume of 336720 shares traded. The stock had previously closed at $61.43.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KNF shares. Citigroup cut Knife River to a “cautious” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered 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. Wall Street Zen lowered Knife River from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research downgraded Knife River from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Knife River from $73.00 to $62.00 and set an “equal weight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $84.29.

Knife River Trading Down 1.1%

The firm’s fifty day moving average price is $71.26 and its two-hundred day moving average price is $78.67. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.66 and a quick ratio of 1.60. The stock has a market cap of $3.26 billion, a P/E ratio of 23.41, a PEG ratio of 1.21 and a beta of 0.38.

Knife River (NYSE:KNF) last posted its quarterly earnings data 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). The company had revenue of $938.57 million during the quarter, compared to the consensus estimate of $931.39 million. Knife River had a return on equity of 8.73% and a net margin of 4.23%.The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $0.89 earnings per share. As a group, equities research analysts forecast that Knife River Corporation will post 2.84 EPS for the current year.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently modified their holdings of KNF. Bank of America Corp DE boosted its stake in shares of Knife River by 19.0% during the 1st quarter. Bank of America Corp DE now owns 392,534 shares of the company’s stock valued at $32,050,000 after purchasing an additional 62,592 shares in the last quarter. First Trust Advisors LP boosted its position in Knife River by 214.2% during the 1st quarter. First Trust Advisors LP now owns 89,551 shares of the company’s stock valued at $7,312,000 after acquiring an additional 61,053 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of Knife River by 16.4% during the 4th quarter. Gamco Investors INC. ET AL now owns 95,348 shares of the company’s stock worth $6,708,000 after acquiring an additional 13,449 shares during the period. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Knife River in the 2nd quarter valued at approximately $21,242,000. Finally, One Capital Management LLC boosted its position in shares of Knife River by 44.7% during the fourth quarter. One Capital Management LLC now owns 23,369 shares of the company’s stock valued at $1,644,000 after purchasing an additional 7,214 shares in the last quarter. 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.