Knife River (NYSE:KNF) Coverage Initiated by Analysts at Royal Bank of Canada

Research analysts at Royal Bank of Canada assumed coverage on shares of Knife River (NYSE:KNF) in a report released on Monday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $129.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 60.03% from the stock’s current price.

Several other analysts have also issued reports on the company. DA Davidson lowered their target price on Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, June 10th. Wells Fargo & Company increased their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $117.17.

Knife River Trading Down 5.4%

Shares of Knife River stock opened at $80.61 on Monday. The firm has a market cap of $4.57 billion, a PE ratio of 22.77, a P/E/G ratio of 2.36 and a beta of 0.84. Knife River has a 1 year low of $66.51 and a 1 year high of $108.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a fifty day moving average price of $93.34 and a 200-day moving average price of $96.74.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). The company had revenue of $353.50 million for the quarter, compared to analysts’ expectations of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.84) EPS. Equities research analysts anticipate that Knife River will post 4.11 EPS for the current year.

Hedge Funds Weigh In On Knife River

Hedge funds have recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in shares of Knife River during the first quarter valued at about $26,000. Brooklyn Investment Group increased its holdings in Knife River by 31,200.0% during the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company’s stock worth $28,000 after acquiring an additional 312 shares during the period. Versant Capital Management Inc lifted its stake in Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company’s stock worth $29,000 after purchasing an additional 271 shares in the last quarter. State of Wyoming bought a new position in Knife River in the 4th quarter valued at $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Knife River in the 1st quarter valued at $35,000. 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.