Knife River (NYSE:KNF) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Knife River (NYSE:KNF) had its target price reduced by JPMorgan Chase & Co. from $73.00 to $63.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an underweight rating on the stock.

Several other equities research analysts also recently issued reports on the company. Zacks Research raised Knife River from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th. DA Davidson started 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 for the company. Wall Street Zen cut shares of Knife River from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Royal Bank Of Canada cut shares of Knife River from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $103.00 to $58.00 in a report on Friday, October 9th. Finally, Oppenheimer lowered their price objective on shares of Knife River from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, September 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $69.29.

Knife River Price Performance

Shares of NYSE:KNF opened at $49.96 on Tuesday. The company’s fifty day moving average is $58.56 and its two-hundred day moving average is $73.14. The company has a market cap of $2.84 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.12 and a beta of 0.46. Knife River has a 12-month low of $47.79 and a 12-month high of $96.28. The company has a quick ratio of 1.60, a current ratio of 2.66 and a debt-to-equity ratio of 1.00.

Knife River (NYSE:KNF) last issued 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 return on equity of 8.73% and a net margin of 4.23%. The business had revenue of $938.59 million during the quarter, compared to analyst estimates of $931.39 million. During the same period last year, the business earned $0.89 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts expect that Knife River will post 2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Knife River

A number of hedge funds have recently bought and sold shares of the company. Trust Co. of Vermont bought a new position in shares of Knife River in the second quarter worth about $39,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Knife River by 1,088.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 594 shares of the company’s stock worth $42,000 after purchasing an additional 544 shares during the last quarter. Allworth Financial LP boosted its stake in Knife River by 74.6% during the 2nd quarter. Allworth Financial LP now owns 590 shares of the company’s stock valued at $49,000 after purchasing an additional 252 shares during the period. Harbor Investment Advisory LLC bought a new stake in Knife River during the 2nd quarter valued at approximately $50,000. Finally, Ballast Advisors LLC bought a new stake in Knife River during the 1st quarter valued at approximately $97,000. 80.11% of the stock is currently owned by institutional investors.

About Knife River

Knife River Corporation is a construction materials and contracting company serving public and private infrastructure markets across the western and north-central United States. The company produces and supplies essential construction materials, including crushed stone, sand and gravel, ready-mix concrete, asphalt and related products.

In addition to materials production, Knife River provides construction services such as asphalt paving, concrete construction, site development, excavation and other heavy civil work.