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

Knife River Co. (NYSE:KNF) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 1,460,000 shares, a decline 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 presently 3.5 days.

Knife River Price Performance

KNF opened at $74.69 on Wednesday. The firm has a market capitalization of $4.23 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.89 and a beta of 0.83. The business’s 50-day moving average is $73.59 and its two-hundred day moving average is $74.39. Knife River has a 1 year low of $46.51 and a 1 year high of $83.78. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.75 and a quick ratio of 1.49.

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

Analyst Ratings Changes

Separately, Stephens started coverage on shares of 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 research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Knife River currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.60.

Institutional Trading of Knife River

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Knife River during the 4th quarter worth $40,548,000. Vanguard Group Inc. increased its holdings in shares of Knife River by 9.1% during the fourth quarter. Vanguard Group Inc. now owns 6,044,184 shares of the company’s stock valued at $400,004,000 after acquiring an additional 503,892 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Knife River by 122.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 819,296 shares of the company’s stock valued at $54,221,000 after acquiring an additional 450,574 shares in the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in shares of Knife River by 48.0% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,150,473 shares of the company’s stock valued at $76,138,000 after purchasing an additional 373,359 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in Knife River by 4,029.5% in the 4th quarter. Federated Hermes Inc. now owns 251,567 shares of the company’s stock worth $16,649,000 after purchasing an additional 245,475 shares in the last quarter. Hedge funds and other institutional investors own 80.11% of the company’s stock.

Knife River Company Profile

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.