Knife River (NYSE:KNF) Hits New 52-Week High – Here’s What Happened

Knife River Co. (NYSE:KNF) hit a new 52-week high during trading on Friday . The company traded as high as $105.74 and last traded at $105.34, with a volume of 395513 shares changing hands. The stock had previously closed at $103.01.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KNF. DA Davidson boosted their target price on Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Oppenheimer boosted their price objective on shares of Knife River from $85.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, October 21st. Finally, Loop Capital lowered their target price on shares of Knife River from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and an average target price of $93.67.

Knife River Stock Performance

The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 2.78 and a beta of 0.70. The firm’s 50 day moving average price is $95.53 and its 200-day moving average price is $82.31. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.72 and a quick ratio of 1.91.

Knife River (NYSE:KNF) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.60 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 for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the company posted $2.58 EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, analysts anticipate that Knife River Co. will post 3.57 earnings per share for the current year.

Institutional Trading of Knife River

A number of institutional investors and hedge funds have recently modified their holdings of KNF. Harbor Capital Advisors Inc. raised its holdings in shares of Knife River by 165.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 38,160 shares of the company’s stock worth $3,411,000 after buying an additional 23,779 shares in the last quarter. Cerity Partners LLC grew its position in Knife River by 24.4% in the third quarter. Cerity Partners LLC now owns 25,487 shares of the company’s stock valued at $2,278,000 after acquiring an additional 5,004 shares during the period. Ausbil Investment Management Ltd lifted its holdings in shares of Knife River by 599.5% during the third quarter. Ausbil Investment Management Ltd now owns 19,579 shares of the company’s stock valued at $1,750,000 after acquiring an additional 16,780 shares during the period. Chesapeake Capital Corp IL acquired a new stake in shares of Knife River in the 3rd quarter valued at $567,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after purchasing an additional 5,791 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors.

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.