Knife River (NYSE:KNF) Given New $80.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Knife River’s price target from $95 to $80 while maintaining a “neutral” rating, implying roughly 18.8% upside from the stock’s current price.
• Analyst sentiment remains moderately bullish overall, with six Buy ratings and four Holds; the consensus price target is $89.71. Other firms have also recently reduced targets, including Wells Fargo’s cut to $73 and RBC’s reduction to $103.
• Knife River’s latest quarterly EPS of $0.77 missed estimates of $1.13, although revenue rose 12.6% year over year to $938.57 million. The stock opened at $67.35, and institutional investors own approximately 80.1% of its shares.

Knife River (NYSE:KNF - Get Free Report) had its price target cut by investment analysts at JPMorgan Chase & Co. from $95.00 to $80.00 in a report released on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 18.78% from the stock's current price.

A number of other research analysts also recently issued reports on KNF. Wells Fargo & Company upgraded shares of Knife River from an "underweight" rating to an "equal weight" rating and decreased their target price for the company from $81.00 to $73.00 in a research report on Wednesday, August 5th. Zacks Research cut Knife River from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Weiss Ratings upgraded Knife River from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 27th. Royal Bank Of Canada reduced their price target on Knife River from $107.00 to $103.00 and set an "outperform" rating for the company in a research report on Wednesday. Finally, Stephens set a $80.00 price objective on shares of Knife River in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.71.

Knife River Stock Up 0.8%

KNF stock opened at $67.35 on Monday. Knife River has a 52 week low of $58.72 and a 52 week high of $96.28. The firm has a 50 day moving average of $79.71 and a 200 day moving average of $81.02. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $3.82 billion, a PE ratio of 27.49, a price-to-earnings-growth ratio of 1.24 and a beta of 0.42.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The firm had revenue of $938.57 million for the quarter, compared to analyst estimates of $931.39 million. During the same period in the prior year, the firm posted $0.89 EPS. The business's revenue was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Knife River will post 3.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in KNF. Price T Rowe Associates Inc. MD increased its holdings in Knife River by 3.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,915,131 shares of the company's stock worth $275,431,000 after acquiring an additional 123,594 shares in the last quarter. State Street Corp raised its position in shares of Knife River by 0.6% during the 2nd quarter. State Street Corp now owns 2,101,198 shares of the company's stock worth $171,542,000 after purchasing an additional 12,308 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Knife River by 57.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,774,284 shares of the company's stock worth $124,821,000 after purchasing an additional 648,979 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Knife River by 5.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company's stock worth $119,579,000 after buying an additional 73,028 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Knife River by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company's stock worth $99,730,000 after buying an additional 9,125 shares in the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source