Loop Capital Issues Pessimistic Forecast for Knife River (NYSE:KNF) Stock Price

by · The Markets Daily

Knife River (NYSE:KNF – Free Report) had its price objective trimmed by Loop Capital from $105.00 to $100.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Oppenheimer upped their target price on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Knife River presently has an average rating of “Moderate Buy” and an average target price of $93.67.

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Knife River Stock Up 0.7 %

Shares of Knife River stock traded up $0.67 during trading on Tuesday, reaching $101.75. The company had a trading volume of 60,242 shares, compared to its average volume of 383,627. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 28.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.74. The firm’s fifty day moving average is $88.61 and its 200-day moving average is $79.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.49 and a current ratio of 2.72. Knife River has a fifty-two week low of $55.05 and a fifty-two week high of $103.14.

Knife River (NYSE:KNF – Get Free Report) last issued its earnings results on Monday, November 4th. The company reported $2.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.22). Knife River had a net margin of 6.89% and a return on equity of 15.22%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company posted $2.58 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, analysts anticipate that Knife River will post 3.68 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bayesian Capital Management LP bought a new position in shares of Knife River in the first quarter valued at approximately $687,000. Swedbank AB bought a new position in shares of Knife River in the first quarter valued at approximately $9,730,000. Comerica Bank lifted its stake in Knife River by 59.2% during the first quarter. Comerica Bank now owns 42,635 shares of the company’s stock valued at $3,457,000 after purchasing an additional 15,848 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Knife River by 34.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 31,051 shares of the company’s stock valued at $2,518,000 after purchasing an additional 7,988 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in Knife River by 311.5% during the second quarter. Harbor Capital Advisors Inc. now owns 14,381 shares of the company’s stock valued at $1,009,000 after purchasing an additional 10,886 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

About Knife River

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Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through Pacific, Northwest, Mountain, Central, and Energy Services segments. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete.

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