Knife River (NYSE:KNF) Trading Down 3.6% - What's Next?

Key Points

• Knife River Corporation's stock price fell 3.6% to $74.12, sharply decreasing trading volume by 96% compared to its average session volume.
• Wall Street analysts have mixed outlooks, with Oppenheimer lowering its price target from $120.00 to $100.00, while Royal Bank of Canada set a target at $129.00, indicating a consensus rating of "Buy."
• Knife River reported a loss in earnings per share of $0.38 compared to analyst expectations, with a revenue of $833.80 million, falling short of the consensus estimate of $902.26 million for the quarter.

Knife River Corporation (NYSE:KNF - Get Free Report) fell 3.6% on Wednesday . The stock traded as low as $74.34 and last traded at $74.12. 23,347 shares were traded during mid-day trading, a decline of 96% from the average session volume of 572,637 shares. The stock had previously closed at $76.87.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KNF. Oppenheimer dropped their price objective on Knife River from $120.00 to $100.00 and set an "outperform" rating for the company in a report on Wednesday. Royal Bank Of Canada assumed coverage on Knife River in a report on Monday, June 16th. They set an "outperform" rating and a $129.00 price target for the company. DA Davidson lowered their price target on Knife River from $105.00 to $95.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on Knife River from $96.00 to $97.00 and gave the stock an "overweight" rating in a report on Monday, August 11th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $106.83.

Knife River Price Performance

The firm has a market cap of $4.12 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 5.39 and a beta of 0.62. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92. The business has a 50-day moving average of $82.21 and a two-hundred day moving average of $86.82.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.38). The firm had revenue of $833.80 million for 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 company's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.37 EPS. Knife River has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that Knife River Corporation will post 4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Knife River by 19.1% during the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company's stock worth $60,000 after acquiring an additional 106 shares during the last quarter. Brady Martz Wealth Solutions LLC grew its position in shares of Knife River by 2.3% in the 2nd quarter. Brady Martz Wealth Solutions LLC now owns 6,786 shares of the company's stock valued at $554,000 after buying an additional 152 shares during the last quarter. Unified Investment Management grew its position in shares of Knife River by 2.6% in the 2nd quarter. Unified Investment Management now owns 5,968 shares of the company's stock valued at $487,000 after buying an additional 153 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its position in shares of Knife River by 2.0% in the 1st quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company's stock valued at $722,000 after buying an additional 159 shares during the last quarter. Finally, Greenleaf Trust grew its position in shares of Knife River by 6.7% in the 1st quarter. Greenleaf Trust now owns 2,567 shares of the company's stock valued at $232,000 after buying an additional 162 shares during the last quarter. 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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