Brokerages Set Knife River Corporation (NYSE:KNF) Target Price at $89.71

Shares of Knife River Corporation (NYSE:KNF) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $89.7143.

KNF has been the topic of a number of recent research reports. Royal Bank Of Canada decreased their price target on shares of Knife River from $107.00 to $103.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 5th. JPMorgan Chase & Co. dropped their price objective on shares of Knife River from $95.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Knife River from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Stephens set a $80.00 target price on shares of Knife River in a research report on Wednesday, August 5th. Finally, Oppenheimer began coverage on shares of Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 target price on the stock.

Institutional Investors Weigh In On Knife River

Institutional investors have recently added to or reduced their stakes in the stock. Paradice Investment Management LLC bought a new position in shares of Knife River during the fourth quarter valued at $22,001,000. Teacher Retirement System of Texas grew its holdings in shares of Knife River by 87.8% in the 4th quarter. Teacher Retirement System of Texas now owns 255,557 shares of the company’s stock worth $17,978,000 after purchasing an additional 119,452 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Knife River by 19.0% in the 1st quarter. Bank of America Corp DE now owns 392,534 shares of the company’s stock worth $32,050,000 after purchasing an additional 62,592 shares during the last quarter. F m Investments LLC grew its holdings in shares of Knife River by 19.2% in the 4th quarter. F m Investments LLC now owns 73,611 shares of the company’s stock worth $5,179,000 after purchasing an additional 11,839 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position 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 purchasing an additional 13,449 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

Knife River Price Performance

Shares of NYSE:KNF opened at $66.10 on Friday. The firm has a market capitalization of $3.75 billion, a PE ratio of 26.98, a PEG ratio of 1.27 and a beta of 0.42. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00. Knife River has a 1-year low of $58.72 and a 1-year high of $96.28. The business’s 50 day moving average is $77.87 and its 200-day moving average is $80.53.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). The firm had revenue of $938.57 million during the quarter, compared to analyst estimates of $931.39 million. Knife River had a net margin of 4.23% and a return on equity of 8.73%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. Sell-side analysts predict that Knife River will post 3.08 earnings per share for the current year.

About Knife River

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.