DA Davidson Has Lowered Expectations for Knife River (NYSE:KNF) Stock Price

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

Several other equities research analysts have also issued reports on the stock. Stephens reissued an "overweight" rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Wells Fargo & Company increased their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $114.80.

Knife River Stock Performance

NYSE:KNF traded down $4.59 during mid-day trading on Tuesday, hitting $80.61. The company's stock had a trading volume of 1,066,089 shares, compared to its average volume of 438,553. Knife River has a 1 year low of $66.51 and a 1 year high of $108.83. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.36 and a beta of 0.84. The business's fifty day moving average is $93.37 and its two-hundred day moving average is $96.95.

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

Institutional Investors Weigh In On Knife River

Several hedge funds have recently modified their holdings of KNF. Opal Wealth Advisors LLC purchased a new position in Knife River in the 1st quarter valued at about $26,000. Brooklyn Investment Group lifted its stake in Knife River by 31,200.0% in the 1st quarter. Brooklyn Investment Group now owns 313 shares of the company's stock valued at $28,000 after buying an additional 312 shares in the last quarter. Versant Capital Management Inc lifted its stake in Knife River by 501.9% in the 1st quarter. Versant Capital Management Inc now owns 325 shares of the company's stock valued at $29,000 after buying an additional 271 shares in the last quarter. State of Wyoming purchased a new position in Knife River in the 4th quarter valued at about $30,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Knife River in the 1st quarter valued at about $35,000. 80.11% of the stock is owned by hedge funds and other institutional investors.

About Knife River

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.