Knife River’s (KNF) “Overweight” Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of Knife River (NYSE:KNF) in a research report sent to investors on Friday,Benzinga reports. They currently have a $120.00 price objective on the stock.

A number of other research firms have also recently issued reports on KNF. Loop Capital cut their price objective on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Oppenheimer upped their price objective on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, DA Davidson upped their price objective on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Knife River presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.50.

Knife River Price Performance

Knife River stock opened at $101.88 on Friday. Knife River has a 52 week low of $66.13 and a 52 week high of $108.83. The business has a 50-day simple moving average of $102.39 and a 200 day simple moving average of $92.82. 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 cap of $5.77 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.41 and a beta of 0.76.

Knife River (NYSE:KNF) last posted its earnings results on Thursday, February 20th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 15.22% and a net margin of 6.89%. On average, research analysts forecast that Knife River will post 3.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Knife River

Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after acquiring an additional 34,646 shares during the period. Capital Research Global Investors boosted its holdings in Knife River by 45.2% during the 4th quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after acquiring an additional 603,170 shares during the period. Geode Capital Management LLC boosted its holdings in Knife River by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after acquiring an additional 26,198 shares during the period. Alliancebernstein L.P. boosted its holdings in Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock valued at $111,965,000 after acquiring an additional 983,223 shares during the period. Finally, Hood River Capital Management LLC boosted its holdings in Knife River by 4.3% during the 4th quarter. Hood River Capital Management LLC now owns 906,534 shares of the company’s stock valued at $92,140,000 after acquiring an additional 37,431 shares during the period. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

About Knife River

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.