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

Key Points

• Knife River's share price reached a new 52-week low of $70.56, closing at $70.94 amidst a trading volume of 32,618 shares.
• Analysts have mixed forecasts for Knife River, with target prices ranging from $95.00 to $129.00, highlighting a consensus rating of "Moderate Buy" with an average target price of $106.83.
• The company reported a missed earnings estimate of $0.89 EPS versus the expected $1.27, with revenues of $833.80 million compared to predictions of $902.26 million.

Knife River Corporation (NYSE:KNF - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $70.56 and last traded at $70.94, with a volume of 32618 shares changing hands. The stock had previously closed at $72.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KNF shares. Oppenheimer lowered their target price on Knife River from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday, October 1st. Royal Bank Of Canada started coverage on Knife River in a report on Monday, June 16th. They issued an "outperform" rating and a $129.00 target price for the company. DA Davidson lowered their target price on Knife River from $105.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday, October 1st. Wells Fargo & Company upped their target price on Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Knife River in a report on Saturday, September 27th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $106.83.

Knife River Stock Performance

The business has a 50 day simple moving average of $81.65 and a 200 day simple moving average of $86.35. 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 company has a market capitalization of $4.03 billion, a PE ratio of 26.39, a PEG ratio of 6.13 and a beta of 0.57.

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

Hedge Funds Weigh In On Knife River

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its position in Knife River by 0.6% during the second quarter. State Street Corp now owns 2,101,198 shares of the company's stock worth $171,542,000 after buying an additional 12,308 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Knife River by 4,145.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,667,822 shares of the company's stock worth $150,456,000 after purchasing an additional 1,628,535 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Knife River by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,395,726 shares of the company's stock worth $113,960,000 after buying an additional 15,464 shares during the last quarter. Invesco Ltd. lifted its holdings in Knife River by 2.9% during the 2nd quarter. Invesco Ltd. now owns 1,272,829 shares of the company's stock worth $103,914,000 after buying an additional 35,900 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Knife River by 7.1% in the 1st quarter. Alliancebernstein L.P. now owns 1,179,797 shares of the company's stock valued at $106,429,000 after purchasing an additional 78,209 shares during the last quarter. Hedge funds and other institutional investors 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.

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