Knife River (NYSE:KNF) Stock Price Expected to Rise, DA Davidson Analyst Says

Knife River (NYSE:KNF) had its target price increased by DA Davidson from $90.00 to $110.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on KNF. Loop Capital lowered their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. Oppenheimer increased their price objective on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Knife River presently has an average rating of “Moderate Buy” and a consensus target price of $93.67.

Knife River Price Performance

Shares of NYSE KNF opened at $101.09 on Wednesday. The business has a 50 day simple moving average of $89.05 and a 200-day simple moving average of $79.35. Knife River has a twelve month low of $55.05 and a twelve month high of $103.33. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 2.70 and a beta of 0.74. The company has a current ratio of 2.72, a quick ratio of 1.49 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF) last issued its earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period last year, the company posted $2.58 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts expect that Knife River will post 3.57 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. abrdn plc acquired a new position in Knife River during the 3rd quarter valued at about $22,934,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of Knife River by 12.2% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock valued at $144,785,000 after acquiring an additional 224,373 shares during the period. Swedbank AB bought a new stake in Knife River during the first quarter worth approximately $9,730,000. M&G Plc acquired a new stake in Knife River in the first quarter worth approximately $9,289,000. Finally, Interval Partners LP bought a new position in Knife River during the 2nd quarter valued at $7,614,000. 80.11% of the stock is currently owned by institutional investors.

Knife River Company Profile

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.