Knife River (NYSE:KNF) Hits New 12-Month Low - What's Next?

Key Points

• Knife River Corporation's stock reached a new 52-week low at $65.64 during trading, dropping significantly from its previous close of $67.59.
• Analysts have adjusted their price targets, with Oppenheimer reducing theirs from $120.00 to $100.00, while DA Davidson lowered its target from $105.00 to $95.00.
• The company reported earnings of $0.89 per share, missing the expected $1.27 and revealing a year-over-year revenue increase of just 3.3% at $833.80 million.

Knife River Corporation (NYSE:KNF - Get Free Report) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $65.68 and last traded at $65.64, with a volume of 142694 shares. The stock had previously closed at $67.59.

Analysts Set New Price Targets

Several research firms have commented on KNF. Oppenheimer dropped their price objective on shares of Knife River from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, October 1st. Weiss Ratings restated a "hold (c)" rating on shares of Knife River in a report on Wednesday, October 8th. DA Davidson reduced their price objective on shares of Knife River from $105.00 to $95.00 and set a "buy" rating on the stock in a research report on Wednesday, October 1st. Finally, Wells Fargo & Company initiated coverage on Knife River in a report on Tuesday, October 7th. They issued a "cautious" rating on the stock. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.83.

Knife River Stock Performance

The firm has a 50 day moving average price of $79.26 and a 200-day moving average price of $85.07. 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 stock has a market capitalization of $3.71 billion, a PE ratio of 24.34, a PEG ratio of 5.95 and a beta of 0.57.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 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 analysts' expectations of $902.26 million. During the same quarter last year, the firm posted $1.37 earnings per share. Knife River's quarterly revenue was up 3.3% on a year-over-year basis. Knife River has set its FY 2025 guidance at EPS. Research analysts expect that Knife River Corporation 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. Brooklyn Investment Group increased its stake in shares of Knife River by 31,200.0% during the first quarter. Brooklyn Investment Group now owns 313 shares of the company's stock worth $28,000 after acquiring an additional 312 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Knife River in the first quarter worth $35,000. Country Trust Bank purchased a new stake in shares of Knife River during the 2nd quarter worth $40,000. GHP Investment Advisors Inc. purchased a new position in shares of Knife River in the 2nd quarter valued at about $48,000. Finally, Bessemer Group Inc. boosted its holdings in Knife River by 173.9% during the first quarter. Bessemer Group Inc. now owns 545 shares of the company's stock worth $49,000 after buying an additional 346 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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