Knife River Co. (NYSE:KNF) Receives $76.20 Consensus Target Price from Brokerages

Knife River Co. (NYSE:KNF) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $76.20.

KNF has been the topic of several analyst reports. Wolfe Research initiated coverage on Knife River in a research note on Friday, March 8th. They issued a “peer perform” rating on the stock. Oppenheimer raised their price target on Knife River from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. Finally, Loop Capital initiated coverage on Knife River in a report on Tuesday, February 13th. They issued a “buy” rating and a $81.00 price target for the company.

Institutional Investors Weigh In On Knife River

A number of institutional investors and hedge funds have recently modified their holdings of KNF. Vanguard Group Inc. lifted its holdings in Knife River by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after acquiring an additional 503,892 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Knife River by 16.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,398,360 shares of the company’s stock valued at $92,546,000 after acquiring an additional 199,389 shares during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in Knife River by 48.0% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after acquiring an additional 373,359 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in Knife River by 19.7% in the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock valued at $54,720,000 after acquiring an additional 184,192 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Knife River by 122.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock valued at $54,221,000 after acquiring an additional 450,574 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Up 2.9 %

NYSE:KNF opened at $72.22 on Wednesday. The company has a market cap of $4.09 billion and a price-to-earnings ratio of 23.30. The company has a current ratio of 2.75, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Knife River has a twelve month low of $33.67 and a twelve month high of $83.78. The stock has a fifty day simple moving average of $77.83 and a 200-day simple moving average of $69.76.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The firm had revenue of $329.60 million for the quarter, compared to analysts’ expectations of $300.98 million. Knife River had a net margin of 6.19% and a return on equity of 14.65%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($516.50) EPS. Analysts anticipate that Knife River will post 3.52 EPS for the current 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.