Knife River (NYSE:KNF) Hits New 12-Month Low - Here's Why

Key Points

• Knife River Corporation's stock reached a new 52-week low with shares trading at $74.20, showing a decline from a previous close of $75.93.
• Despite the recent drop, the stock has a consensus rating of "Buy" from analysts, with an average price target of $114.33.
• The company reported earnings per share of $0.89 for the recent quarter, missing expectations significantly and reflecting a growth in quarterly revenue of only 3.3% year-over-year.

Knife River Corporation (NYSE:KNF - Get Free Report) shares reached a new 52-week low on Wednesday . The company traded as low as $73.93 and last traded at $74.20, with a volume of 239070 shares trading hands. The stock had previously closed at $75.93.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KNF shares. Wells Fargo & Company lifted 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. Royal Bank Of Canada started coverage on shares of Knife River in a research note on Monday, June 16th. They set an "outperform" rating and a $129.00 price objective on the stock. Finally, DA Davidson cut their target price on Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $114.33.

Knife River Price Performance

The stock's 50-day moving average is $82.81 and its 200-day moving average is $87.37. The firm has a market cap of $4.22 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 5.52 and a beta of 0.62. The company has a quick ratio of 1.57, a current ratio of 2.78 and a debt-to-equity ratio of 0.92.

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

Hedge Funds Weigh In On Knife River

A number of hedge funds have recently modified their holdings of the stock. Fifth Third Bancorp increased its position in shares of Knife River by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company's stock valued at $60,000 after buying an additional 106 shares in the last quarter. Brady Martz Wealth Solutions LLC increased its holdings in shares of Knife River by 2.3% in the second quarter. Brady Martz Wealth Solutions LLC now owns 6,786 shares of the company's stock worth $554,000 after acquiring an additional 152 shares in the last quarter. Unified Investment Management raised its position in shares of Knife River by 2.6% during the second quarter. Unified Investment Management now owns 5,968 shares of the company's stock worth $487,000 after purchasing an additional 153 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Knife River by 2.0% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company's stock valued at $722,000 after purchasing an additional 159 shares in the last quarter. Finally, Greenleaf Trust increased its stake in Knife River by 6.7% during the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company's stock worth $232,000 after purchasing an additional 162 shares in 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.

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