Knife River (NYSE:KNF) Reaches New 12-Month High – Here’s What Happened

Knife River Co. (NYSE:KNF) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $108.57 and last traded at $108.00, with a volume of 40505 shares. The stock had previously closed at $107.31.

Analyst Ratings Changes

A number of brokerages have issued reports on KNF. Oppenheimer boosted their target price on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. DA Davidson boosted their price objective on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Loop Capital cut their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Knife River Price Performance

The stock has a market capitalization of $5.93 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The business’s 50-day moving average price is $102.29 and its 200 day moving average price is $90.37. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72.

Knife River (NYSE:KNF) last released its quarterly earnings results on Monday, November 4th. The company reported $2.60 earnings per share for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. During the same period in the previous year, the business earned $2.58 EPS. The business’s revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Knife River Co. will post 3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Knife River by 129.4% during the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock worth $28,000 after purchasing an additional 176 shares during the last quarter. Huntington National Bank raised its holdings in shares of Knife River by 586.0% during the 3rd quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Knife River in the 2nd quarter worth approximately $43,000. Harvest Fund Management Co. Ltd purchased a new stake in Knife River in the third quarter worth approximately $60,000. Finally, Sittner & Nelson LLC grew its position in Knife River by 18.5% during the third quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after acquiring an additional 150 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other 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.