Knife River (NYSE:KNF) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Knife River (NYSE:KNF - Free Report) in a research report released on Monday, Marketbeat.com reports. The firm issued an outperform rating and a $129.00 target price on the stock.

A number of other research firms have also weighed in on KNF. DA Davidson cut their target price on shares of Knife River from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, June 10th. Wells Fargo & Company boosted their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $117.17.

Knife River Stock Down 1.7%

NYSE:KNF traded down $1.40 during trading hours on Monday, reaching $79.05. The company's stock had a trading volume of 1,022,833 shares, compared to its average volume of 447,098. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 24.94, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84. Knife River has a one year low of $66.51 and a one year high of $108.83. The business's 50-day moving average is $92.86 and its 200-day moving average is $96.32. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.94 and a quick ratio of 1.49.

Knife River (NYSE:KNF - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). The firm had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. Knife River had a return on equity of 12.83% and a net margin of 6.18%. The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.84) EPS. Equities research analysts predict that Knife River will post 4.11 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its position in shares of Knife River by 45.2% during the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company's stock valued at $196,829,000 after buying an additional 603,170 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Knife River by 4,145.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company's stock valued at $150,456,000 after buying an additional 1,628,535 shares during the last quarter. Invesco Ltd. raised its position in shares of Knife River by 40.6% during the first quarter. Invesco Ltd. now owns 1,236,929 shares of the company's stock valued at $111,583,000 after buying an additional 357,133 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Knife River by 7.1% during the first quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company's stock valued at $106,429,000 after buying an additional 78,209 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Knife River by 9.6% during the first quarter. Driehaus Capital Management LLC now owns 1,077,922 shares of the company's stock valued at $97,239,000 after buying an additional 94,710 shares during the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

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.