Knife River Corporation (NYSE:KNF) Given Average Recommendation of "Buy" by Brokerages

Key Points

• Knife River Corporation (NYSE:KNF) has received an average recommendation of "Buy" from six analysts, with a consensus 12-month price target of $114.33.
• Institutional investors own 80.11% of Knife River's stock, with significant increases in holdings noted for several investment firms during the first quarter.
• Despite an increase in revenue of 3.3% year-over-year, Knife River reported a quarterly earnings miss, with $0.89 EPS against the estimated $1.27 EPS.

Knife River Corporation (NYSE:KNF - Get Free Report) has been given an average rating of "Buy" by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $114.3333.

Several equities research analysts have issued reports on KNF shares. DA Davidson dropped their price target on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, June 10th. Royal Bank Of Canada assumed coverage on Knife River in a research note on Monday, June 16th. They issued an "outperform" rating and a $129.00 target price for the company. Finally, Wells Fargo & Company boosted their target price on Knife River from $96.00 to $97.00 and gave the company an "overweight" rating in a research note on Monday, August 11th.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. increased its holdings in Knife River by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock valued at $14,012,000 after purchasing an additional 697 shares during the period. Golden State Wealth Management LLC increased its holdings in Knife River by 14.8% during the 1st quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock valued at $389,000 after purchasing an additional 555 shares during the period. OneDigital Investment Advisors LLC purchased a new position in Knife River during the 1st quarter valued at about $206,000. Wealth Enhancement Advisory Services LLC increased its holdings in Knife River by 6.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock valued at $729,000 after purchasing an additional 485 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Knife River by 99.3% during the 1st quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock valued at $97,000 after purchasing an additional 535 shares during the period. Institutional investors own 80.11% of the company's stock.

Knife River Trading Up 0.2%

Shares of KNF stock opened at $75.86 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average price of $82.81 and a two-hundred day moving average price of $87.37. Knife River has a 12-month low of $74.21 and a 12-month high of $108.83. The firm has a market cap of $4.30 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 5.52 and a beta of 0.62.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%.The firm had revenue of $833.80 million for the quarter, compared to the consensus estimate of $902.26 million. During the same period last year, the firm earned $1.37 EPS. The company's revenue for the quarter was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. Equities analysts anticipate that Knife River will post 4.11 EPS for the current fiscal year.

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.

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