Knife River Co. (NYSE:KNF) Sees Large Increase in Short Interest

Knife River Co. (NYSE:KNF - Get Free Report) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,610,000 shares, an increase of 19.3% from the November 30th total of 1,350,000 shares. Based on an average daily volume of 413,400 shares, the short-interest ratio is presently 3.9 days.

Knife River Stock Performance

Knife River stock traded down $0.71 during trading hours on Tuesday, hitting $101.64. 296,758 shares of the stock traded hands, compared to its average volume of 393,843. 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 has a 1 year low of $61.50 and a 1 year high of $108.39. The stock has a market capitalization of $5.75 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 2.81 and a beta of 0.70. The firm's 50 day moving average price is $100.30 and its 200-day moving average price is $86.69.

Knife River (NYSE:KNF - Get Free Report) 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 business had revenue of $1.11 billion for 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 business's quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.58 earnings per share. As a group, equities analysts expect that Knife River will post 3.49 EPS for the current fiscal year.

Analyst Ratings Changes

KNF has been the topic of several research analyst reports. Loop Capital dropped their target price on Knife River from $105.00 to $100.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. DA Davidson raised their price target on Knife River from $90.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Finally, Oppenheimer increased their price objective on shares of Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Knife River has an average rating of "Moderate Buy" and an average target price of $99.20.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Knife River by 129.4% during the 3rd quarter. GAMMA Investing LLC now owns 312 shares of the company's stock worth $28,000 after purchasing an additional 176 shares during the period. Huntington National Bank boosted its stake in shares of Knife River by 586.0% in the third quarter. Huntington National Bank now owns 343 shares of the company's stock worth $31,000 after buying an additional 293 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Knife River during the second quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Knife River during the second quarter valued at approximately $43,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Knife River in the third quarter valued at approximately $60,000. 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.

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