Knife River (NYSE:KNF) Hits New 52-Week High at $81.52

Knife River Co. (NYSE:KNFGet Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $81.52 and last traded at $80.45, with a volume of 11216 shares trading hands. The stock had previously closed at $81.08.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KNF. Bank of America began coverage on shares of Knife River in a research note on Friday, January 5th. They issued a “buy” rating and a $81.00 target price on the stock. Oppenheimer raised their target price on shares of Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. Wolfe Research began coverage on shares of Knife River in a research note on Friday, March 8th. They issued a “peer perform” rating on the stock. Loop Capital began coverage on shares of Knife River in a research note on Tuesday, February 13th. They issued a “buy” rating and a $81.00 target price on the stock. Finally, Siebert Williams Shank raised their target price on shares of Knife River from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Tuesday, December 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.20.

Read Our Latest Research Report on KNF

Knife River Stock Performance

The company has a quick ratio of 1.71, a current ratio of 2.63 and a debt-to-equity ratio of 0.53. The stock’s fifty day moving average price is $72.67 and its 200-day moving average price is $62.78.

Knife River (NYSE:KNFGet Free Report) last issued its earnings results on Thursday, February 15th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.16. The business had revenue of $646.90 million for the quarter, compared to the consensus estimate of $566.47 million. Knife River had a net margin of 6.46% and a return on equity of 15.98%. Knife River’s revenue was up 20.4% on a year-over-year basis. On average, analysts predict that Knife River Co. will post 3.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Knife River

Institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its holdings in Knife River by 87.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 49,307 shares of the company’s stock worth $2,408,000 after buying an additional 23,022 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Knife River during the third quarter worth $893,000. Geode Capital Management LLC acquired a new position in Knife River during the second quarter worth $46,886,000. Planned Solutions Inc. acquired a new position in Knife River during the fourth quarter worth $53,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Knife River by 19.7% during the third quarter. Schonfeld Strategic Advisors LLC now owns 1,120,623 shares of the company’s stock worth $54,720,000 after buying an additional 184,192 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.

About Knife River

(Get Free Report)

Knife River Corporation, together with its subsidiaries, provides aggregates- led construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting service, such as heavy-civil construction, asphalt and concrete paving, and site development and grading.

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