Knife River (NYSE:KNF) Coverage Initiated at B. Riley

Equities researchers at B. Riley started coverage on shares of Knife River (NYSE:KNF) in a research report issued on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating on the stock.

Several other equities analysts have also commented on KNF. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Knife River in a research note on Wednesday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of Knife River in a research note on Thursday, December 4th. They set a “neutral” rating and a $83.00 target price on the stock. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $81.00 price objective (up from $75.00) on shares of Knife River in a research report on Tuesday. Royal Bank Of Canada cut their target price on Knife River from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Finally, Wall Street Zen cut Knife River from a “hold” rating to a “sell” rating in a research report on Sunday, January 11th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Knife River has an average rating of “Moderate Buy” and a consensus target price of $96.57.

Knife River Price Performance

Shares of KNF opened at $83.31 on Thursday. Knife River has a fifty-two week low of $58.72 and a fifty-two week high of $108.83. The company has a market capitalization of $4.72 billion, a P/E ratio of 31.92, a P/E/G ratio of 1.31 and a beta of 0.47. The business’s 50-day moving average is $74.07 and its two-hundred day moving average is $76.08. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.47 and a current ratio of 2.39.

Knife River (NYSE:KNF) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.45 by $0.07. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. Knife River had a return on equity of 9.97% and a net margin of 4.87%. Research analysts predict that Knife River will post 4.11 earnings per share for the current year.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently made changes to their positions in KNF. IVC Wealth Advisors LLC lifted its position in Knife River by 10.0% during the fourth quarter. IVC Wealth Advisors LLC now owns 4,336 shares of the company’s stock worth $305,000 after buying an additional 395 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Knife River by 111.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 63,904 shares of the company’s stock worth $4,648,000 after acquiring an additional 33,698 shares during the period. Cascade Investment Advisors Inc. boosted its position in shares of Knife River by 7.1% in the fourth quarter. Cascade Investment Advisors Inc. now owns 17,177 shares of the company’s stock worth $1,208,000 after acquiring an additional 1,145 shares during the last quarter. Dakota Wealth Management increased its position in Knife River by 2.4% during the fourth quarter. Dakota Wealth Management now owns 21,359 shares of the company’s stock worth $1,503,000 after purchasing an additional 491 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Knife River by 7.3% during the fourth quarter. SG Americas Securities LLC now owns 22,439 shares of the company’s stock worth $1,579,000 after purchasing an additional 1,523 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Company Profile

Knife River Corporation, headquartered in Bismarck, North Dakota, is a leading integrated construction materials and contracting company in the western United States. The company specializes in producing and supplying aggregates, asphalt mix, ready-mixed concrete and other heavy construction materials used in highway, commercial and residential projects.

In addition to material production, Knife River offers a comprehensive suite of contracting services, including heavy civil construction, road building, underground and open-pit mining and logistics support.