Brokerages Set Knife River Co. (NYSE:KNF) Price Target at $76.20

Shares of Knife River Co. (NYSE:KNF) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $76.20.

A number of equities research analysts recently weighed in on the company. Bank of America assumed coverage on Knife River in a research report on Friday, January 5th. They set a “buy” rating and a $81.00 price objective on the stock. Wolfe Research assumed coverage on Knife River in a research report on Friday, March 8th. They set a “peer perform” rating on the stock. Loop Capital assumed coverage on Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price objective on the stock. Finally, Oppenheimer raised their price objective on Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KNF. DekaBank Deutsche Girozentrale purchased a new stake in Knife River in the third quarter valued at about $34,000. Financial Management Professionals Inc. purchased a new stake in Knife River in the fourth quarter valued at about $35,000. TFO Wealth Partners LLC raised its stake in Knife River by 38,250.0% in the fourth quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after buying an additional 765 shares during the last quarter. Planned Solutions Inc. purchased a new stake in Knife River in the fourth quarter valued at about $53,000. Finally, Clear Street Markets LLC purchased a new position in shares of Knife River in the third quarter worth about $59,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Price Performance

KNF opened at $79.24 on Friday. Knife River has a 12-month low of $33.67 and a 12-month high of $83.78. The company has a current ratio of 2.63, a quick ratio of 1.71 and a debt-to-equity ratio of 0.53. The business’s fifty day simple moving average is $77.04 and its 200-day simple moving average is $66.70. The company has a market capitalization of $4.49 billion and a price-to-earnings ratio of -0.15.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The business had revenue of $646.90 million for the quarter, compared to the consensus estimate of $566.47 million. The business’s revenue was up 20.4% compared to the same quarter last year. On average, equities research analysts anticipate that Knife River will post 3.5 earnings per share for the current fiscal year.

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.