Knife River (NYSE:KNF) Price Target Lowered to $105.00 at Royal Bank Of Canada

Knife River (NYSE:KNF) had its price objective trimmed by Royal Bank Of Canada from $115.00 to $105.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on KNF. Weiss Ratings restated a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. DA Davidson decreased their price target on shares of Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. Oppenheimer lowered their price objective 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. Wells Fargo & Company upgraded shares of Knife River from an “equal weight” rating to an “overweight” rating and set a $75.00 target price for the company in a research report on Tuesday. Finally, UBS Group upgraded Knife River to an “overweight” rating in a research report on Tuesday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Knife River presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

Knife River Price Performance

Shares of KNF traded down $0.19 during mid-day trading on Thursday, reaching $70.89. 763,900 shares of the stock traded hands, compared to its average volume of 863,339. The company has a market cap of $4.02 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.45 and a beta of 0.53. Knife River has a 1 year low of $58.72 and a 1 year high of $108.83. The firm has a fifty day moving average price of $71.12 and a 200 day moving average price of $82.03. The company has a current ratio of 2.39, a quick ratio of 1.57 and a debt-to-equity ratio of 0.73.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.07. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Knife River has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Knife River will post 4.11 earnings per share for the current year.

Hedge Funds Weigh In On Knife River

Several hedge funds and other institutional investors have recently modified their holdings of KNF. Baillie Gifford & Co. bought a new stake in Knife River in the third quarter valued at $169,020,000. Price T Rowe Associates Inc. MD lifted its position in shares of Knife River by 4,145.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company’s stock worth $150,456,000 after purchasing an additional 1,628,535 shares during the period. Norges Bank bought a new stake in shares of Knife River during the 2nd quarter valued at about $53,260,000. T. Rowe Price Investment Management Inc. increased its position in shares of Knife River by 129.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,053,386 shares of the company’s stock valued at $95,026,000 after buying an additional 593,431 shares during the period. Finally, Nuveen LLC bought a new position in Knife River in the first quarter worth about $38,521,000. 80.11% of the stock is owned by institutional investors.

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.