Knife River (NYSE:KNF) Shares Down 7.1% - Should You Sell?

Key Points

• Shares down 7.1% — KNF fell to $80.90 on Friday (low $80.62) on ~300,397 shares traded, about 54% below its average daily volume of 651,752.
• Analyst sentiment is broadly positive: six Buys, three Holds and one Sell give a consensus rating of "Moderate Buy" with a consensus price target of $97.43, and several firms raised targets to $105 while Wells Fargo downgraded to underweight.
• Fundamentals: Knife River beat the quarter with $0.56 EPS vs $0.41 expected and $755.06M revenue vs $726.6M, the company has a $4.52B market cap, P/E ~29 and ~80% institutional ownership.

Knife River Corporation (NYSE:KNF - Get Free Report)'s share price dropped 7.1% on Friday . The company traded as low as $80.62 and last traded at $80.8960. Approximately 300,397 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 651,752 shares. The stock had previously closed at $87.10.

Analyst Ratings Changes

KNF has been the subject of a number of analyst reports. Stephens raised their price target on Knife River from $86.00 to $105.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 18th. Wall Street Zen upgraded shares of Knife River from a "sell" rating to a "hold" rating in a report on Monday, February 23rd. JPMorgan Chase & Co. upped their price target on shares of Knife River from $83.00 to $90.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. DA Davidson increased their price objective on shares of Knife River from $95.00 to $105.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company downgraded shares of Knife River from an "equal weight" rating to an "underweight" rating and raised their price objective for the stock from $75.00 to $81.00 in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $97.43.

Knife River Stock Performance

The company has a market cap of $4.52 billion, a P/E ratio of 28.98, a P/E/G ratio of 1.98 and a beta of 0.27. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.54 and a quick ratio of 1.39. The business has a 50-day moving average of $81.32 and a two-hundred day moving average of $75.31.

Knife River (NYSE:KNF - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.41 by $0.15. The business had revenue of $755.06 million during the quarter, compared to the consensus estimate of $726.60 million. Knife River had a net margin of 4.99% and a return on equity of 10.27%. The business's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.41 earnings per share. On average, sell-side analysts predict that Knife River Corporation will post 4.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Hantz Financial Services Inc. increased its position in Knife River by 141.8% during the third quarter. Hantz Financial Services Inc. now owns 341 shares of the company's stock worth $26,000 after buying an additional 200 shares during the period. Country Trust Bank purchased a new position in shares of Knife River in the 2nd quarter worth about $40,000. McMillan Office Inc. acquired a new position in Knife River during the 4th quarter worth approximately $36,000. Caitong International Asset Management Co. Ltd lifted its holdings in Knife River by 1,088.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company's stock worth $42,000 after buying an additional 544 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in shares of Knife River during the 3rd quarter valued at approximately $47,000. Institutional investors and hedge funds own 80.11% of the company's stock.

About Knife River

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.

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