Knife River (NYSE:KNF) Hits New 12-Month High – Should You Buy?

Knife River Co. (NYSE:KNF)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $108.39 and last traded at $105.61, with a volume of 242210 shares trading hands. The stock had previously closed at $104.85.

Analysts Set New Price Targets

KNF has been the topic of a number of analyst reports. Loop Capital decreased their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Oppenheimer boosted their target price on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, DA Davidson increased their price target on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Knife River Trading Down 3.7 %

The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.71 billion, a PE ratio of 28.92, a P/E/G ratio of 2.90 and a beta of 0.70. The business’s fifty day moving average is $98.07 and its 200-day moving average is $84.31.

Knife River (NYSE:KNF) last released its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS 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 firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same quarter last year, the business earned $2.58 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, analysts anticipate that Knife River Co. will post 3.49 EPS for the current fiscal year.

Institutional Investors Weigh In On Knife River

A number of large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in shares of Knife River by 53.0% during the second quarter. SG Americas Securities LLC now owns 8,811 shares of the company’s stock worth $618,000 after buying an additional 3,052 shares in the last quarter. Clear Creek Financial Management LLC raised its stake in shares of Knife River by 56.3% in the 2nd quarter. Clear Creek Financial Management LLC now owns 6,604 shares of the company’s stock valued at $463,000 after purchasing an additional 2,380 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Knife River by 0.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 123,933 shares of the company’s stock worth $8,693,000 after purchasing an additional 928 shares during the last quarter. Panagora Asset Management Inc. grew its stake in Knife River by 5.8% in the second quarter. Panagora Asset Management Inc. now owns 56,625 shares of the company’s stock worth $3,972,000 after purchasing an additional 3,124 shares in the last quarter. Finally, F M Investments LLC bought a new stake in Knife River in the second quarter valued at about $6,346,000. 80.11% of the stock is owned by institutional investors and hedge funds.

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.