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

Knife River Co. (NYSE:KNF) gapped up before the market opened on Thursday . The stock had previously closed at $97.26, but opened at $104.05. Knife River shares last traded at $100.40, with a volume of 44,331 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KNF shares. Oppenheimer increased their price target on Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Stephens reissued an “overweight” rating and set a $120.00 price target on shares of Knife River in a report on Friday. Loop Capital lowered their price target on Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, DA Davidson increased their price target on Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Knife River currently has a consensus rating of “Moderate Buy” and an average target price of $112.50.

Knife River Price Performance

The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $5.77 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.41 and a beta of 0.76. The firm has a 50 day moving average price of $102.39 and a 200 day moving average price of $92.82.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Knife River had a return on equity of 15.22% and a net margin of 6.89%. Research analysts anticipate that Knife River Co. will post 3.49 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

A number of institutional investors have recently bought and sold shares of the business. Arizona State Retirement System increased its stake in Knife River by 0.8% in the 4th quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock worth $1,586,000 after buying an additional 124 shares in the last quarter. Angeles Wealth Management LLC increased its stake in Knife River by 1.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 8,500 shares of the company’s stock worth $760,000 after buying an additional 125 shares in the last quarter. Sittner & Nelson LLC increased its stake in Knife River by 18.5% in the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock worth $86,000 after buying an additional 150 shares in the last quarter. Covestor Ltd increased its stake in Knife River by 13.2% in the 3rd quarter. Covestor Ltd now owns 1,288 shares of the company’s stock worth $115,000 after buying an additional 150 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock worth $43,000 after buying an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

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.