Knife River (NYSE:KNF) Reaches New 52-Week Low – Should You Sell?

Knife River Corporation (NYSE:KNF) reached a new 52-week low on Wednesday. The company traded as low as $50.43 and last traded at $50.4390, with a volume of 422705 shares. The stock had previously closed at $52.68.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Zacks Research lowered Knife River from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. Oppenheimer reduced their target price on Knife River from $90.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, September 24th. Wall Street Zen lowered Knife River from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Stephens set a $80.00 price target on shares of Knife River in a research note on Wednesday, August 5th. Finally, Citigroup cut shares of Knife River to a “cautious” rating in a research note on Wednesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Knife River currently has a consensus rating of “Hold” and an average price target of $78.29.

Knife River Trading Up 0.4%

The company has a 50 day moving average of $63.29 and a 200 day moving average of $75.45. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.18 and a beta of 0.47.

Knife River (NYSE:KNF) last announced its earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The business had revenue of $938.59 million for the quarter, compared to analyst estimates of $931.39 million. During the same period last year, the firm earned $0.89 EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, research analysts predict that Knife River Corporation will post 2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Knife River

A number of institutional investors and hedge funds have recently bought and sold shares of KNF. Trust Co. of Vermont acquired a new stake in Knife River in the 2nd quarter valued at about $39,000. Hantz Financial Services Inc. lifted its stake in Knife River by 66.3% in 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 in the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings 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 boosted its holdings in shares of Knife River by 74.6% during the 2nd quarter. Allworth Financial LP now owns 590 shares of the company’s stock worth $49,000 after purchasing an additional 252 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Knife River during the 2nd quarter worth approximately $50,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

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.