Knife River (NYSE:KNF) Shares Down 5.6% Following Analyst Downgrade

Knife River Co. (NYSE:KNF - Get Free Report)'s stock price dropped 5.6% during trading on Wednesday after DA Davidson lowered their price target on the stock from $125.00 to $120.00. DA Davidson currently has a buy rating on the stock. Knife River traded as low as $84.88 and last traded at $84.19. Approximately 622,871 shares changed hands during trading, an increase of 34% from the average daily volume of 464,794 shares. The stock had previously closed at $89.18.

Several other equities analysts have also weighed in on the stock. Stephens restated an "overweight" rating and set a $120.00 price objective on shares of Knife River in a research report on Friday, February 14th. Wells Fargo & Company raised their target price on shares of Knife River from $102.00 to $114.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $114.80.

Institutional Trading of Knife River

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hodges Capital Management Inc. purchased a new position in shares of Knife River in the first quarter worth approximately $1,743,000. Strs Ohio acquired a new position in Knife River in the 1st quarter worth approximately $5,034,000. Ellsworth Advisors LLC grew its position in Knife River by 7.4% during the 1st quarter. Ellsworth Advisors LLC now owns 7,192 shares of the company's stock worth $649,000 after purchasing an additional 495 shares in the last quarter. Intech Investment Management LLC raised its stake in Knife River by 41.1% during the 1st quarter. Intech Investment Management LLC now owns 31,419 shares of the company's stock valued at $2,834,000 after purchasing an additional 9,152 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Knife River by 16.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 227,565 shares of the company's stock valued at $20,529,000 after purchasing an additional 32,762 shares in the last quarter. Institutional investors and hedge funds own 80.11% of the company's stock.

Knife River Price Performance

The company has a debt-to-equity ratio of 0.45, a current ratio of 2.67 and a quick ratio of 1.64. The company has a market cap of $4.82 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.84. The stock has a fifty day moving average price of $93.36 and a 200-day moving average price of $97.08.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) EPS for the quarter, missing analysts' consensus estimates of ($0.89) by ($0.32). The business 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 14.82% and a net margin of 6.96%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.84) earnings per share. On average, equities analysts expect that Knife River Co. will post 4.11 earnings per share for the current year.

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.