Knife River (NYSE:KNF) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Knife River (NYSE:KNF) from a neutral rating to an underweight rating in a research report report published on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $73.00 target price on the stock, down from their previous target price of $80.00.

Other research analysts have also issued reports about the company. Wells Fargo & Company raised Knife River from an “underweight” rating to an “equal weight” rating and lowered their target price for the stock from $81.00 to $73.00 in a research report on Wednesday, August 5th. Stephens set a $80.00 target price on Knife River in a research note on Wednesday, August 5th. Zacks Research downgraded Knife River from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Oppenheimer began coverage on Knife River in a research note on Thursday, May 28th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, DA Davidson assumed coverage on shares of Knife River in a research report on Monday, August 24th. They set a “buy” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Knife River has an average rating of “Moderate Buy” and a consensus target price of $85.86.

Knife River Price Performance

KNF stock opened at $61.97 on Wednesday. The company has a 50 day simple moving average of $73.24 and a 200 day simple moving average of $79.56. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 25.29, a P/E/G ratio of 1.20 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. Knife River has a 1 year low of $58.72 and a 1 year high of $96.28.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.77 earnings per share 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 firm had revenue of $938.57 million for the quarter, compared to analyst estimates of $931.39 million. During the same period last year, the business earned $0.89 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. Research analysts anticipate that Knife River will post 3.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Knife River

Several institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. lifted its stake in shares of Knife River by 6.9% during the 1st quarter. Bessemer Group Inc. now owns 1,852 shares of the company’s stock valued at $151,000 after buying an additional 119 shares in the last quarter. TIAA Trust National Association grew its position in shares of Knife River by 5.6% in the fourth quarter. TIAA Trust National Association now owns 3,146 shares of the company’s stock valued at $221,000 after purchasing an additional 166 shares in the last quarter. Lido Advisors LLC raised its stake in shares of Knife River by 6.0% during the 1st quarter. Lido Advisors LLC now owns 2,949 shares of the company’s stock valued at $241,000 after purchasing an additional 167 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Knife River by 6.3% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,705 shares of the company’s stock worth $285,000 after purchasing an additional 220 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Knife River by 66.3% in the 4th quarter. Hantz Financial Services Inc. now owns 567 shares of the company’s stock worth $40,000 after purchasing an additional 226 shares during the period. 80.11% of the stock is owned by hedge funds and other institutional investors.

About Knife River

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.