Knife River Corporation (NYSE:KNF) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Knife River Corporation (NYSE:KNF) have earned an average rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $114.3333.

KNF has been the topic of a number of analyst reports. Royal Bank Of Canada initiated coverage on shares of Knife River in a research report on Monday, June 16th. They set an “outperform” rating and a $129.00 target price on the stock. DA Davidson decreased their target price on shares of Knife River from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company raised their target price on shares of Knife River from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, August 11th.

Hedge Funds Weigh In On Knife River

A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. raised its stake in shares of Knife River by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company’s stock valued at $14,012,000 after acquiring an additional 697 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Knife River by 14.8% in the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company’s stock valued at $389,000 after acquiring an additional 555 shares during the period. OneDigital Investment Advisors LLC purchased a new position in shares of Knife River in the 1st quarter valued at $206,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Knife River by 6.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company’s stock valued at $729,000 after acquiring an additional 485 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Knife River by 99.3% in the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company’s stock valued at $97,000 after acquiring an additional 535 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

Knife River Stock Down 4.1%

KNF stock opened at $76.70 on Friday. The company’s 50 day simple moving average is $83.60 and its 200-day simple moving average is $89.08. The firm has a market capitalization of $4.35 billion, a PE ratio of 28.51, a P/E/G ratio of 5.90 and a beta of 0.62. Knife River has a 12 month low of $73.91 and a 12 month high of $108.83. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.38). The business had revenue of $833.80 million during the quarter, compared to analyst estimates of $902.26 million. Knife River had a net margin of 5.20% and a return on equity of 10.58%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. Knife River has set its FY 2025 guidance at EPS. Equities analysts expect that Knife River will post 4.11 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.