Oppenheimer Raises Knife River (NYSE:KNF) Price Target to $120.00

Knife River (NYSE:KNF) had its target price increased by Oppenheimer from $110.00 to $120.00 in a report released on Friday morning, Marketbeat reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research firms have also recently commented on KNF. DA Davidson upped their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Loop Capital lowered their price target on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Knife River currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.33.

Knife River Stock Down 2.7 %

NYSE:KNF opened at $102.28 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. Knife River has a 12-month low of $61.50 and a 12-month high of $107.96. The stock’s fifty day simple moving average is $97.10 and its 200-day simple moving average is $83.43. The firm has a market capitalization of $5.79 billion, a P/E ratio of 29.32, a P/E/G ratio of 2.90 and a beta of 0.70.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.12 billion. During the same period last year, the company earned $2.58 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Knife River will post 3.49 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company’s stock worth $144,785,000 after purchasing an additional 224,373 shares during the last quarter. State Street Corp increased its holdings in Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock worth $179,054,000 after buying an additional 34,646 shares during the last quarter. Geode Capital Management LLC raised its position in Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock worth $119,561,000 after acquiring an additional 26,198 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Knife River by 5.3% in the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock valued at $53,377,000 after acquiring an additional 38,152 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock valued at $62,513,000 after acquiring an additional 5,791 shares during the period. Institutional investors and hedge funds own 80.11% of the company’s stock.

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.