Knife River Corporation (NYSE:KNF) Stock Has Consensus Price Target of $78.29 According to Analysts

Shares of Knife River Corporation (NYSE:KNF) have been given a consensus recommendation of “Hold” by the eleven research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $77.14.

A number of equities analysts have commented on KNF shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Monday, August 24th. DA Davidson assumed coverage on shares of Knife River in a research note on Monday, August 24th. They issued a “buy” rating and a $85.00 price target for the company. Oppenheimer dropped their price target on shares of Knife River from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Zacks Research downgraded shares of Knife River from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Finally, Citigroup lowered shares of Knife River to a “cautious” rating in a research report on Wednesday, September 9th.

Institutional Investors Weigh In On Knife River

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trust Co. of Vermont acquired a new position in shares of Knife River in the 2nd quarter valued at $39,000. Hantz Financial Services Inc. increased its position in shares of Knife River by 66.3% during the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after purchasing an additional 226 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after purchasing an additional 544 shares during the last quarter. Allworth Financial LP raised its holdings in Knife River by 74.6% in 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, Harbor Investment Advisory LLC purchased a new stake in Knife River in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Up 2.5%

Shares of KNF opened at $53.28 on Friday. Knife River has a 52-week low of $49.15 and a 52-week high of $96.28. 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 stock has a fifty day simple moving average of $61.69 and a two-hundred day simple moving average of $74.81. The company has a market capitalization of $3.02 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.21 and a beta of 0.46.

Knife River (NYSE:KNF) last announced its quarterly 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 firm had revenue of $938.59 million for the quarter, compared to analyst estimates of $931.39 million. During the same period in the previous year, the firm posted $0.89 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Knife River will post 2.55 EPS for the current year.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company serving public and private infrastructure markets across the western and north-central United States. The company produces and supplies essential construction materials, including crushed stone, sand and gravel, ready-mix concrete, asphalt and related products.

In addition to materials production, Knife River provides construction services such as asphalt paving, concrete construction, site development, excavation and other heavy civil work.