Knife River Co. (NYSE:KNF) Short Interest Update

Knife River Co. (NYSE:KNF) saw a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,460,000 shares, a drop of 6.4% from the July 15th total of 1,560,000 shares. Based on an average daily volume of 422,900 shares, the days-to-cover ratio is currently 3.5 days.

Analyst Upgrades and Downgrades

Separately, Stephens initiated coverage on Knife River in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Knife River currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Hedge Funds Weigh In On Knife River

Institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in Knife River in the second quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Knife River during the 2nd quarter valued at $43,000. TFO Wealth Partners LLC grew its stake in shares of Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock worth $51,000 after acquiring an additional 765 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in Knife River in the 2nd quarter worth about $96,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Knife River in the 1st quarter worth about $203,000. Institutional investors own 80.11% of the company’s stock.

Knife River Price Performance

Shares of NYSE KNF opened at $74.69 on Wednesday. The company has a market capitalization of $4.23 billion, a PE ratio of 24.09, a PEG ratio of 2.89 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.75 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $73.59 and its 200-day moving average price is $74.39. Knife River has a twelve month low of $46.51 and a twelve month high of $83.78.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.13. The business had revenue of $806.90 million for the quarter, compared to analysts’ expectations of $803.81 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 earnings per share. On average, equities analysts anticipate that Knife River will post 3.51 EPS for the current year.

About Knife River

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.