Knife River (NYSE:KNF) Sets New 52-Week Low – Time to Sell?

Knife River Corporation (NYSE:KNF)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $58.64 and last traded at $58.59, with a volume of 336720 shares. The stock had previously closed at $61.43.

Wall Street Analysts Forecast Growth

KNF has been the topic of several recent research reports. Citigroup lowered Knife River to a “cautious” rating in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Knife River in a research note on Monday, August 24th. Zacks Research lowered shares of Knife River from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 1st. DA Davidson initiated coverage on shares of Knife River in a research note on Monday, August 24th. They set a “buy” rating and a $85.00 price target for the company. Finally, Oppenheimer began coverage on shares of Knife River in a research report on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Knife River has an average rating of “Hold” and an average price target of $84.29.

Knife River Price Performance

The firm has a fifty day simple moving average of $72.31 and a 200 day simple moving average of $79.12. The company has a market capitalization of $3.32 billion, a PE ratio of 23.85, a P/E/G ratio of 1.29 and a beta of 0.38. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share 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 firm had revenue of $938.57 million during the quarter, compared to analysts’ expectations of $931.39 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. Knife River’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities analysts anticipate that Knife River Corporation will post 2.84 EPS for the current year.

Institutional Trading of Knife River

Large investors have recently added to or reduced their stakes in the company. McMillan Office Inc. acquired a new stake in shares of Knife River in the fourth quarter worth $36,000. Trust Co. of Vermont acquired a new position in Knife River in the 2nd quarter worth about $39,000. Hantz Financial Services Inc. raised its stake in shares of Knife River by 66.3% during the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after buying an additional 226 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in Knife River by 1,088.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock valued at $42,000 after purchasing an additional 544 shares in the last quarter. Finally, Allworth Financial LP increased its stake in 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 buying an additional 252 shares in the last quarter. Hedge funds and other 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.