Knife River (NYSE:KNF) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Knife River (NYSE:KNF) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $83.00 to $90.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.23% from the company’s previous close.

Several other research analysts also recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Knife River in a research report on Thursday, January 22nd. DA Davidson boosted their target price on shares of Knife River from $95.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 18th. Zacks Research upgraded shares of Knife River from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. B. Riley Financial initiated coverage on shares of Knife River in a research note on Thursday, January 15th. They set a “buy” rating and a $92.00 price target on the stock. Finally, Royal Bank Of Canada raised their price target on shares of Knife River from $106.00 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.43.

Knife River Trading Down 4.6%

Shares of KNF opened at $80.19 on Thursday. The stock has a fifty day moving average price of $79.39 and a two-hundred day moving average price of $75.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.39 and a current ratio of 2.54. Knife River has a 52-week low of $58.72 and a 52-week high of $103.18. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.94 and a beta of 0.27.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. Knife River had a return on equity of 10.27% and a net margin of 4.99%.The company had revenue of $755.06 million for the quarter, compared to analyst estimates of $726.60 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 14.9% on a year-over-year basis. Analysts predict that Knife River will post 4.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in shares of Knife River by 3.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,915,131 shares of the company’s stock worth $275,431,000 after buying an additional 123,594 shares during the period. Baillie Gifford & Co. acquired a new position in Knife River in the third quarter valued at approximately $169,020,000. State Street Corp boosted its stake in Knife River by 0.6% in the second quarter. State Street Corp now owns 2,101,198 shares of the company’s stock valued at $171,542,000 after acquiring an additional 12,308 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Knife River by 57.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company’s stock valued at $124,821,000 after acquiring an additional 648,979 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Knife River by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company’s stock worth $99,730,000 after acquiring an additional 9,125 shares during the period. Institutional investors own 80.11% of the company’s stock.

Knife River Company Profile

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.