Knife River (NYSE:KNF) Given New $120.00 Price Target at DA Davidson

Knife River (NYSE:KNF - Free Report) had its price target lowered by DA Davidson from $125.00 to $120.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

KNF has been the topic of several other reports. Wells Fargo & Company increased their target price on Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Stephens reaffirmed an "overweight" rating and issued a $120.00 price objective on shares of Knife River in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $114.80.

Knife River Price Performance

Shares of KNF traded down $5.00 during trading hours on Tuesday, hitting $84.18. 1,085,771 shares of the company were exchanged, compared to its average volume of 433,536. The company has a market cap of $4.77 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 2.36 and a beta of 0.84. Knife River has a fifty-two week low of $66.51 and a fifty-two week high of $108.83. The company has a quick ratio of 1.64, a current ratio of 2.67 and a debt-to-equity ratio of 0.45. The firm's fifty day moving average is $93.35 and its 200 day moving average is $97.17.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.89) by ($0.32). The company had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company posted ($0.84) earnings per share. On average, equities analysts anticipate that Knife River will post 4.11 earnings per share for the current fiscal year.

Institutional Trading of Knife River

Several large investors have recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in Knife River by 45.2% in the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after buying an additional 603,170 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Knife River by 4,145.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company's stock worth $150,456,000 after purchasing an additional 1,628,535 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Knife River by 40.6% during the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock worth $111,583,000 after purchasing an additional 357,133 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Knife River by 7.1% during the first quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company's stock worth $106,429,000 after purchasing an additional 78,209 shares during the last quarter. Finally, Driehaus Capital Management LLC grew its holdings in shares of Knife River by 9.6% during the first quarter. Driehaus Capital Management LLC now owns 1,077,922 shares of the company's stock worth $97,239,000 after purchasing an additional 94,710 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

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.