Knife River (NYSE:KNF) Sets New 12-Month High – Here’s Why

Knife River Co. (NYSE:KNF) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $108.57 and last traded at $108.00, with a volume of 40505 shares traded. The stock had previously closed at $107.31.

Wall Street Analyst Weigh In

Several research analysts have recently commented on KNF shares. Oppenheimer raised their price target on Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. DA Davidson raised their price target on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, 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 research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.75.

Knife River Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 2.42 and a beta of 0.78. The company has a 50-day moving average of $101.46 and a 200-day moving average of $89.67.

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

Institutional Trading of Knife River

Institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. raised its stake in shares of Knife River by 38.4% in the 4th quarter. Pacer Advisors Inc. now owns 11,497 shares of the company’s stock valued at $1,169,000 after purchasing an additional 3,192 shares in the last quarter. KBC Group NV raised its stake in shares of Knife River by 37.7% in the 4th quarter. KBC Group NV now owns 2,427 shares of the company’s stock valued at $247,000 after purchasing an additional 664 shares in the last quarter. Drive Wealth Management LLC acquired a new stake in shares of Knife River in the 4th quarter valued at about $2,062,000. Ellsworth Advisors LLC acquired a new stake in shares of Knife River in the 4th quarter valued at about $681,000. Finally, Brady Martz Wealth Solutions LLC acquired a new stake in shares of Knife River in the 4th quarter valued at about $675,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

Knife River Company Profile

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.