Knife River (NYSE:KNF) Shares Gap Down – Here’s What Happened

Knife River Corporation (NYSE:KNF)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $76.48, but opened at $74.12. Knife River shares last traded at $75.8190, with a volume of 33,704 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on KNF shares. Royal Bank Of Canada decreased their target price on shares of Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research report on Wednesday, October 8th. DA Davidson decreased their price objective on Knife River from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Wednesday, October 1st. Oppenheimer lowered their price objective on Knife River from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, October 1st. Finally, Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Knife River currently has an average rating of “Moderate Buy” and an average price target of $96.33.

Knife River Stock Down 2.2%

The firm has a market cap of $4.24 billion, a PE ratio of 28.69, a price-to-earnings-growth ratio of 1.51 and a beta of 0.43. The company has a quick ratio of 1.47, a current ratio of 2.39 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $69.04 and a two-hundred day moving average price of $79.03.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.07. Knife River had a return on equity of 9.97% and a net margin of 4.87%.The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. On average, equities research analysts expect that Knife River Corporation will post 4.11 EPS for the current year.

Institutional Investors Weigh In On Knife River

Several institutional investors have recently modified their holdings of the company. Hantz Financial Services Inc. increased its holdings in Knife River by 141.8% in the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company’s stock valued at $26,000 after buying an additional 200 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of 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 in the last quarter. Country Trust Bank purchased a new position in shares of Knife River in the 2nd quarter valued at about $40,000. Quent Capital LLC purchased a new position in shares of Knife River in the 3rd quarter valued at about $47,000. Finally, GHP Investment Advisors Inc. acquired a new stake in shares of Knife River during the 2nd quarter worth about $48,000. 80.11% of the stock is 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.