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

Key Points

• Knife River shares hit a new 52-week low of $53.59, falling well below their 50-day and 200-day moving averages of $68.16 and $77.29, respectively.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $84.29; targets range from $62 to $95, while some firms recently downgraded the stock to “Sell” or “Strong Sell.”
• The company beat revenue expectations with $938.6 million for the quarter, up 12.6% year over year, but missed EPS estimates by reporting $0.77 versus the expected $1.13. Institutional investors own approximately 80.1% of the shares.

Knife River Corporation (NYSE:KNF - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $53.59 and last traded at $54.4810, with a volume of 1378992 shares changing hands. The stock had previously closed at $54.44.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. DA Davidson initiated coverage on shares of Knife River in a research note on Monday, August 24th. They issued a "buy" rating and a $85.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Knife River from $73.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 9th. Oppenheimer assumed coverage on shares of Knife River in a report on Thursday, May 28th. They set an "outperform" rating and a $95.00 price target for the company. Wall Street Zen lowered shares of Knife River from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Zacks Research lowered shares of Knife River from a "hold" rating to a "strong sell" rating in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $84.29.

Knife River Stock Performance

The firm has a market cap of $3.11 billion, a PE ratio of 22.36, a P/E/G ratio of 1.13 and a beta of 0.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.66 and a quick ratio of 1.60. The stock has a 50-day moving average price of $68.16 and a 200 day moving average price of $77.29.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in Knife River by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,464,690 shares of the company's stock worth $119,579,000 after purchasing an additional 73,028 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Knife River by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 1,417,408 shares of the company's stock valued at $99,730,000 after purchasing an additional 9,125 shares during the last quarter. Capital World Investors acquired a new position in shares of Knife River in the 4th quarter valued at $71,166,000. Voss Capital LP grew its stake in shares of Knife River by 61.4% during the 4th quarter. Voss Capital LP now owns 710,048 shares of the company's stock valued at $49,952,000 after buying an additional 270,048 shares during the period. Finally, Norges Bank purchased a new stake in shares of Knife River during the 4th quarter valued at $32,753,000. 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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