DA Davidson Forecasts Strong Price Appreciation for Knife River (NYSE:KNF) Stock

Knife River (NYSE:KNF) had its price objective upped by stock analysts at DA Davidson from $90.00 to $110.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. DA Davidson’s price objective points to a potential upside of 8.82% from the company’s current price.

Other analysts also recently issued research reports about the company. Oppenheimer boosted their price target on Knife River from $85.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, October 21st. Loop Capital decreased their target price on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.67.

Knife River Stock Up 0.5 %

KNF stock opened at $101.08 on Wednesday. The stock has a market capitalization of $5.72 billion, a PE ratio of 28.96, a price-to-earnings-growth ratio of 2.20 and a beta of 0.74. Knife River has a 52 week low of $54.67 and a 52 week high of $103.14. The company has a quick ratio of 1.49, a current ratio of 2.72 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $88.61 and a 200 day moving average of $79.18.

Knife River (NYSE:KNF) last posted its quarterly 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). The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.58 EPS. Sell-side analysts forecast that Knife River will post 3.68 earnings per share for the current year.

Hedge Funds Weigh In On Knife River

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after purchasing an additional 176 shares in the last quarter. Huntington National Bank increased its holdings in Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company’s stock valued at $31,000 after buying an additional 293 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Knife River during the 2nd quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Knife River during the 2nd quarter worth about $43,000. Finally, Sittner & Nelson LLC grew its position in shares of Knife River by 18.5% during the 3rd quarter. Sittner & Nelson LLC now owns 960 shares of the company’s stock valued at $86,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 80.11% of the company’s stock.

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.