Knife River Corporation (NYSE:KNF) Stock Has Average Price Target of $69.29

Key Points

• Analysts have a consensus “Hold” rating on Knife River, with five buy ratings, four holds, two sells and one strong buy. The average 12-month price target is $69.29, though recent brokers have lowered targets sharply.
• KNF opened at $54.28, well below its 52-week high of $96.28 and its 200-day moving average of $74.29. The company has a market capitalization of approximately $3.08 billion.
• Knife River’s latest quarterly revenue rose 12.6% year over year to $938.59 million, exceeding estimates, but EPS of $0.77 missed expectations of $1.13. Institutional investors own approximately 80.11% of the company’s stock.

Shares of Knife River Corporation (NYSE:KNF - Get Free Report) have been given an average rating of "Hold" by the twelve research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $69.29.

A number of brokerages have issued reports on KNF. Zacks Research raised Knife River from a "strong sell" rating to a "hold" rating in a research note on Friday, October 9th. Royal Bank Of Canada downgraded Knife River from an "outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $103.00 to $58.00 in a research note on Friday, October 9th. B. Riley Financial cut their price objective on Knife River from $105.00 to $65.00 and set a "buy" rating for the company in a report on Friday, September 25th. Wall Street Zen cut Knife River from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Citigroup cut Knife River to a "cautious" rating in a research note on Wednesday, September 9th.

Knife River Stock Down 1.0%

KNF stock opened at $54.28 on Thursday. The firm's 50-day moving average is $56.07 and its two-hundred day moving average is $74.29. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.24 and a beta of 0.46. Knife River has a 52 week low of $47.79 and a 52 week high of $96.28. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.36). Knife River had a net margin of 4.23% and a return on equity of 8.73%. The company had revenue of $938.59 million during the quarter, compared to the consensus estimate of $931.39 million. During the same quarter last year, the business earned $0.89 earnings per share. The company's revenue was up 12.6% on a year-over-year basis. On average, analysts forecast that Knife River will post 2.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knife River

Large investors have recently made changes to their positions in the business. William Mack & Associates Inc. bought a new stake in shares of Knife River in the 3rd quarter worth approximately $34,000. Asset Management One Co. Ltd. lifted its stake in Knife River by 40.6% during the third quarter. Asset Management One Co. Ltd. now owns 3,986 shares of the company's stock valued at $201,000 after purchasing an additional 1,151 shares during the last quarter. Signaturefd LLC boosted its holdings in Knife River by 267.1% during the third quarter. Signaturefd LLC now owns 826 shares of the company's stock worth $42,000 after buying an additional 601 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its holdings in Knife River by 26.4% during the third quarter. ZWJ Investment Counsel Inc. now owns 4,000 shares of the company's stock worth $202,000 after buying an additional 836 shares in the last quarter. Finally, Allied Investment Advisors LLC boosted its holdings in Knife River by 16.5% during the third quarter. Allied Investment Advisors LLC now owns 5,384 shares of the company's stock worth $271,000 after buying an additional 763 shares in the last quarter. Institutional investors own 80.11% of the company's stock.

About Knife River

Knife River Corporation is a construction materials and contracting company headquartered in Bismarck, North Dakota. The company produces and sells construction aggregates, asphalt, ready-mix concrete and cement, and also provides related construction services for transportation, commercial, residential and industrial projects.

Its operations include aggregate mining and processing, asphalt and concrete production, paving, site development and other heavy-construction activities. Knife River serves public-sector and private-sector customers, including state and local governments, contractors, commercial developers and industrial businesses.

Knife River became an independent publicly traded company in 2023 after being spun off from MDU Resources Group.

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