Knife River (NYSE:KNF) Reaches New 12-Month High - Here's Why

Knife River Co. (NYSE:KNF - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $95.90 and last traded at $95.90, with a volume of 105 shares. The stock had previously closed at $93.45.

Wall Street Analyst Weigh In

Separately, Oppenheimer upped their target price on Knife River from $85.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, October 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Knife River currently has an average rating of "Moderate Buy" and a consensus price target of $86.60.

Knife River Stock Performance

The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 0.52. The firm has a 50-day simple moving average of $85.06 and a two-hundred day simple moving average of $78.07.

Knife River (NYSE:KNF - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.13. The firm had revenue of $806.90 million for the quarter, compared to analyst estimates of $803.81 million. Knife River had a net margin of 6.88% and a return on equity of 15.73%. The company's revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, sell-side analysts forecast that Knife River Co. will post 3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KNF. GAMMA Investing LLC grew its stake in shares of Knife River by 129.4% in the third quarter. GAMMA Investing LLC now owns 312 shares of the company's stock worth $28,000 after acquiring an additional 176 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Knife River in the 2nd quarter worth $39,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Knife River during the 2nd quarter worth about $43,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Knife River during the second quarter valued at about $96,000. Finally, Horan Capital Advisors LLC. bought a new stake in shares of Knife River in the first quarter valued at about $203,000. Institutional investors and hedge funds 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.