Oppenheimer Raises Knife River (NYSE:KNF) Price Target to $110.00

Knife River (NYSE:KNF) had its target price lifted by Oppenheimer from $85.00 to $110.00 in a research report released on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Knife River Price Performance

KNF opened at $92.65 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.49 and a current ratio of 2.51. Knife River has a 52-week low of $46.51 and a 52-week high of $95.85. The stock has a market capitalization of $5.24 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. The stock’s 50 day moving average price is $84.70 and its 200-day moving average price is $78.00.

Knife River (NYSE:KNF) last posted its earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The firm had revenue of $806.90 million for the quarter, compared to analysts’ expectations of $803.81 million. During the same period in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts predict that Knife River will post 3.72 EPS for the current year.

Hedge Funds Weigh In On Knife River

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in 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 purchasing an additional 176 shares during the period. Retirement Systems of Alabama grew its stake in Knife River by 0.3% in the first quarter. Retirement Systems of Alabama now owns 71,032 shares of the company’s stock worth $5,759,000 after purchasing an additional 185 shares during the period. LVW Advisors LLC grew its stake in Knife River by 3.3% in the third quarter. LVW Advisors LLC now owns 6,027 shares of the company’s stock worth $539,000 after purchasing an additional 195 shares during the period. Oliver Luxxe Assets LLC grew its stake in Knife River by 1.2% in the first quarter. Oliver Luxxe Assets LLC now owns 17,493 shares of the company’s stock worth $1,418,000 after purchasing an additional 206 shares during the period. Finally, Patten Group Inc. grew its stake in Knife River by 2.4% in the third quarter. Patten Group Inc. now owns 9,881 shares of the company’s stock worth $883,000 after purchasing an additional 228 shares during the period. 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.