Oppenheimer Issues Positive Forecast for Knife River (NYSE:KNF) Stock Price

Knife River (NYSE:KNF) had its price objective hoisted by Oppenheimer from $110.00 to $120.00 in a research note published on Friday, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued reports about the stock. DA Davidson upped their target price on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Loop Capital dropped their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $95.33.

Knife River Stock Down 2.7 %

Knife River stock opened at $102.28 on Friday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 29.32, a P/E/G ratio of 2.90 and a beta of 0.70. The firm has a fifty day moving average price of $97.10 and a two-hundred day moving average price of $83.43. Knife River has a fifty-two week low of $61.50 and a fifty-two week high of $107.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91.

Knife River (NYSE:KNF) last posted its quarterly earnings data 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 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 in the prior year, the firm posted $2.58 EPS. Knife River’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, analysts forecast that Knife River will post 3.49 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its stake in Knife River by 10.5% in the third quarter. Franklin Resources Inc. now owns 421,458 shares of the company’s stock worth $38,201,000 after purchasing an additional 39,991 shares in the last quarter. Tidal Investments LLC increased its position in Knife River by 125.7% in the 3rd quarter. Tidal Investments LLC now owns 9,623 shares of the company’s stock valued at $860,000 after acquiring an additional 5,360 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Knife River in the third quarter worth about $365,000. Geode Capital Management LLC lifted its position in shares of Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock worth $119,561,000 after purchasing an additional 26,198 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Knife River by 156.2% during the third quarter. Barclays PLC now owns 170,101 shares of the company’s stock valued at $15,205,000 after purchasing an additional 103,713 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

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.