Knife River (NYSE:KNF) Trading 6.3% Higher - Still a Buy?

Shares of Knife River Co. (NYSE:KNF - Get Free Report) were up 6.3% on Friday . The stock traded as high as $106.48 and last traded at $106.33. Approximately 118,734 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 389,647 shares. The stock had previously closed at $100.03.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer increased their price objective on Knife River from $110.00 to $120.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. DA Davidson upped their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Finally, Loop Capital cut 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.33.

Knife River Stock Up 5.7 %

The company's fifty day simple moving average is $98.56 and its 200 day simple moving average is $84.53. The firm has a market capitalization of $5.98 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.70. The company has a current ratio of 2.72, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing the consensus estimate of $2.82 by ($0.22). Knife River had a return on equity of 15.22% and a net margin of 6.89%. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.12 billion. During the same quarter last year, the business earned $2.58 earnings per share. The business's quarterly revenue was up 1.4% on a year-over-year basis. Research analysts expect that Knife River Co. will post 3.49 EPS for the current year.

Institutional Investors Weigh In On Knife River

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. abrdn plc purchased a new position in shares of Knife River during the third quarter valued at approximately $22,934,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Knife River by 12.2% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,064,224 shares of the company's stock valued at $144,785,000 after purchasing an additional 224,373 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Knife River during the 3rd quarter valued at about $10,267,000. Interval Partners LP purchased a new position in Knife River in the 2nd quarter worth approximately $7,614,000. Finally, Federated Hermes Inc. boosted its stake in Knife River by 37.5% during the 2nd quarter. Federated Hermes Inc. now owns 384,215 shares of the company's stock valued at $26,949,000 after purchasing an additional 104,720 shares during the last quarter. 80.11% of the stock is owned by hedge funds and other institutional investors.

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.