Knife River (NYSE:KNF) Price Target Raised to $97.00

Key Points

• Wells Fargo & Company raised Knife River's price target from $96.00 to $97.00, indicating a potential upside of 10.23% from the current price with an "overweight" rating on the stock.
• Knife River's recent quarterly earnings report showed $0.89 EPS, missing estimates of $1.27 and generating revenue of $833.80 million, below the forecast of $902.26 million.
• Institutional investors and hedge funds own 80.11% of Knife River's stock, reflecting significant interest from large financial entities.

Knife River (NYSE:KNF - Get Free Report) had its target price increased by Wells Fargo & Company from $96.00 to $97.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.23% from the company's current price.

A number of other analysts have also issued reports on the stock. DA Davidson dropped their price target on shares of 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 shares of Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 price objective for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Knife River presently has an average rating of "Buy" and a consensus target price of $114.33.

Knife River Stock Down 0.1%

Shares of NYSE:KNF traded down $0.05 during midday trading on Monday, reaching $87.99. The company had a trading volume of 58,247 shares, compared to its average volume of 554,618. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.78 and a quick ratio of 1.57. The stock's fifty day moving average price is $83.16 and its 200-day moving average price is $90.83. The stock has a market capitalization of $4.99 billion, a P/E ratio of 32.71, a PEG ratio of 6.42 and a beta of 0.63. Knife River has a one year low of $71.96 and a one year high of $108.83.

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 analysts' consensus estimates of $1.27 by ($0.38). The company had revenue of $833.80 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 EPS. Equities research analysts expect that Knife River will post 4.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Knife River

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in shares of Knife River by 0.5% during the first quarter. Principal Financial Group Inc. now owns 155,329 shares of the company's stock valued at $14,012,000 after acquiring an additional 697 shares during the period. Golden State Wealth Management LLC boosted its holdings in shares of Knife River by 14.8% during the first quarter. Golden State Wealth Management LLC now owns 4,313 shares of the company's stock valued at $389,000 after acquiring an additional 555 shares during the period. OneDigital Investment Advisors LLC acquired a new position in shares of Knife River during the first quarter valued at $206,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Knife River by 6.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,082 shares of the company's stock valued at $729,000 after acquiring an additional 485 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Knife River by 99.3% during the first quarter. GAMMA Investing LLC now owns 1,074 shares of the company's stock valued at $97,000 after acquiring an additional 535 shares during the period. Institutional investors and hedge funds own 80.11% of the company's stock.

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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