Knife River (NYSE:KNF) Sets New 1-Year Low - Time to Sell?

Key Points

• Knife River shares fell 1.9% to a new 52-week low of $56.25, well below their 50-day and 200-day moving averages of $70.15 and $78.24, respectively.
• The company missed quarterly EPS expectations, reporting $0.77 versus the $1.13 consensus, although revenue rose 12.6% year over year to $938.57 million.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an $84.29 price target; institutional investors own approximately 80.11% of the stock.

Knife River Corporation (NYSE:KNF - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $56.25 and last traded at $56.5460, with a volume of 710870 shares changing hands. The stock had previously closed at $57.63.

Wall Street Analyst Weigh In

KNF has been the subject of a number of research reports. Royal Bank Of Canada cut their target price on shares of Knife River from $107.00 to $103.00 and set an "outperform" rating for the company in a research report on Wednesday, August 5th. DA Davidson began coverage on shares of Knife River in a research report on Monday, August 24th. They issued a "buy" rating and a $85.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Knife River in a research note on Monday, August 24th. Citigroup cut shares of Knife River to a "cautious" rating in a report on Wednesday, September 9th. Finally, Wall Street Zen downgraded Knife River from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $84.29.

Knife River Stock Down 1.9%

The stock has a fifty day simple moving average of $70.15 and a two-hundred day simple moving average of $78.24. The firm has a market cap of $3.21 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.20 and a beta of 0.38. The company has a current ratio of 2.66, a quick ratio of 1.60 and a debt-to-equity ratio of 1.00.

Knife River (NYSE:KNF - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.13 by ($0.36). Knife River had a return on equity of 8.73% and a net margin of 4.23%.The firm had revenue of $938.57 million during the quarter, compared to analysts' expectations of $931.39 million. During the same period in the previous year, the company posted $0.89 earnings per share. The company's quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts expect that Knife River Corporation will post 2.86 EPS for the current fiscal year.

Institutional Trading of Knife River

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Knife River by 19.0% in the 1st quarter. Bank of America Corp DE now owns 392,534 shares of the company's stock worth $32,050,000 after buying an additional 62,592 shares during the last quarter. First Trust Advisors LP grew its position in Knife River by 214.2% in the first quarter. First Trust Advisors LP now owns 89,551 shares of the company's stock worth $7,312,000 after acquiring an additional 61,053 shares in the last quarter. Gamco Investors INC. ET AL grew its position in Knife River by 16.4% in the fourth quarter. Gamco Investors INC. ET AL now owns 95,348 shares of the company's stock worth $6,708,000 after acquiring an additional 13,449 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Knife River in the second quarter valued at $21,242,000. Finally, One Capital Management LLC increased its stake in Knife River by 44.7% in the fourth quarter. One Capital Management LLC now owns 23,369 shares of the company's stock valued at $1,644,000 after acquiring an additional 7,214 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Company Profile

Knife River Corporation is a construction materials and contracting company that produces and supplies essential materials for public and private infrastructure projects. Its principal products include construction aggregates, ready-mix concrete and asphalt, along with related paving and contracting services.

The company operates an integrated network of quarries, sand and gravel sites, asphalt and concrete plants, and construction operations. Its services support highways, bridges, airports, commercial developments, residential projects and other infrastructure improvements.

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