Knife River (NYSE:KNF) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Key Points

• JPMorgan cut Knife River’s price target from $73 to $63 while maintaining an “underweight” rating, implying roughly 28% upside from the prior close.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $69.29; Wells Fargo also lowered its target, while DA Davidson and Oppenheimer remain more optimistic.
• Knife River shares fell to $49.23 and remain near their 12-month low after the company missed quarterly EPS estimates, despite revenue rising 12.6% year over year.

Knife River (NYSE:KNF - Get Free Report) had its target price reduced by analysts at JPMorgan Chase & Co. from $73.00 to $63.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 27.98% from the company's previous close.

Several other equities analysts have also commented on KNF. Wells Fargo & Company lowered their price target on shares of Knife River from $62.00 to $54.00 and set an "equal weight" rating for the company in a research report on Monday, October 5th. DA Davidson started coverage on shares of Knife River in a research report on Monday, August 24th. They issued a "buy" rating and a $85.00 price objective on the stock. Citigroup cut shares of Knife River to a "cautious" rating in a research report on Wednesday, September 9th. Weiss Ratings restated a "hold (c)" rating on shares of Knife River in a research note on Monday, August 24th. Finally, Oppenheimer dropped their price target on shares of Knife River from $90.00 to $80.00 and set an "outperform" rating on the stock in a research note on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $69.29.

Knife River Stock Performance

Shares of NYSE KNF traded down $0.21 during mid-day trading on Tuesday, hitting $49.23. The company had a trading volume of 148,895 shares, compared to its average volume of 693,371. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 1.16 and a beta of 0.46. Knife River has a 12 month low of $48.71 and a 12 month high of $96.28. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.66 and a quick ratio of 1.60. The firm's 50 day simple moving average is $59.70 and its two-hundred day simple moving average is $73.90.

Knife River (NYSE:KNF - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.36). The company had revenue of $938.59 million for the quarter, compared to analyst estimates of $931.39 million. Knife River had a net margin of 4.23% and a return on equity of 8.73%. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, equities research analysts forecast that Knife River will post 2.55 earnings per share for the current year.

Hedge Funds Weigh In On Knife River

Institutional investors and hedge funds have recently bought and sold shares of the stock. Trust Co. of Vermont acquired a new position in Knife River in the second quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company's stock valued at $42,000 after acquiring an additional 544 shares during the last quarter. Allworth Financial LP lifted its position in shares of Knife River by 74.6% during the 2nd quarter. Allworth Financial LP now owns 590 shares of the company's stock valued at $49,000 after acquiring an additional 252 shares during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Knife River during the 2nd quarter worth $50,000. Finally, Ballast Advisors LLC bought a new stake in shares of Knife River during the 1st quarter worth $97,000. Institutional investors own 80.11% of the company's stock.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company serving public and private infrastructure markets across the western and north-central United States. The company produces and supplies essential construction materials, including crushed stone, sand and gravel, ready-mix concrete, asphalt and related products.

In addition to materials production, Knife River provides construction services such as asphalt paving, concrete construction, site development, excavation and other heavy civil work.

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