Knife River (NYSE:KNF) Sets New 12-Month Low – What’s Next?

Knife River Corporation (NYSE:KNF) shares hit a new 52-week low on Monday . The stock traded as low as $53.59 and last traded at $54.4810, with a volume of 1378992 shares. The stock had previously closed at $54.44.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KNF shares. DA Davidson began coverage on Knife River in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 price target for the company. Wall Street Zen downgraded Knife River from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Oppenheimer initiated coverage on Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price objective on the stock. Royal Bank Of Canada decreased their target price on Knife River from $107.00 to $103.00 and set an “outperform” rating for the company in a report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. downgraded shares of Knife River from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $80.00 to $73.00 in a research report on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Knife River currently has an average rating of “Hold” and a consensus price target of $84.29.

Knife River Price Performance

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.60 and a current ratio of 2.66. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.13 and a beta of 0.38. The company’s fifty day moving average is $68.16 and its two-hundred day moving average is $77.29.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The business had revenue of $938.57 million for the quarter, compared to analysts’ expectations of $931.39 million. During the same period last year, the company posted $0.89 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts forecast that Knife River Corporation will post 2.86 EPS for the current year.

Institutional Investors Weigh In On Knife River

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors acquired a new position in shares of Knife River in the fourth quarter worth about $71,166,000. Norges Bank purchased a new position in Knife River in the fourth quarter valued at about $32,753,000. Voss Capital LP grew its stake in Knife River by 61.4% during the 4th quarter. Voss Capital LP now owns 710,048 shares of the company’s stock valued at $49,952,000 after purchasing an additional 270,048 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Knife River during the 2nd quarter valued at approximately $21,242,000. Finally, Dimensional Fund Advisors LP increased its holdings in Knife River by 5.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company’s stock worth $119,579,000 after purchasing an additional 73,028 shares during the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

About Knife River

Knife River Corporation is a construction materials and contracting company that produces and supplies essential materials for public and private infrastructure projects. Its principal products include construction aggregates, ready-mix concrete and asphalt, along with related paving and contracting services.

The company operates an integrated network of quarries, sand and gravel sites, asphalt and concrete plants, and construction operations. Its services support highways, bridges, airports, commercial developments, residential projects and other infrastructure improvements.