Knife River (NYSE:KNF) Shares Gap Up Following Strong Earnings

Knife River Corporation (NYSE:KNF)’s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $61.11, but opened at $66.51. Knife River shares last traded at $64.80, with a volume of 123,668 shares trading hands.

The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.45 by $0.07. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. Knife River had a net margin of 5.20% and a return on equity of 10.58%. Knife River has set its FY 2025 guidance at EPS.

Analysts Set New Price Targets

Several analysts have issued reports on KNF shares. UBS Group raised shares of Knife River to an “overweight” rating in a research report on Tuesday. Oppenheimer dropped their price target on shares of Knife River from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 1st. DA Davidson dropped their price objective on shares of Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, October 1st. Wells Fargo & Company raised shares of Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 price objective on the stock in a research report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.17.

Institutional Investors Weigh In On Knife River

A number of large investors have recently bought and sold shares of KNF. Brooklyn Investment Group raised its holdings in Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock valued at $28,000 after buying an additional 312 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Knife River during the 1st quarter worth approximately $35,000. Country Trust Bank bought a new position in Knife River during the 2nd quarter worth approximately $40,000. Quent Capital LLC bought a new position in Knife River during the 3rd quarter worth approximately $47,000. Finally, GHP Investment Advisors Inc. bought a new position in Knife River during the 2nd quarter worth approximately $48,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Trading Up 5.8%

The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.57 and a current ratio of 2.78. The firm’s fifty day simple moving average is $72.21 and its 200-day simple moving average is $82.45. The stock has a market cap of $3.66 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 5.10 and a beta of 0.53.

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.