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

Knife River Co. (NYSE:KNF) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,710,000 shares, a growth of 6.2% from the December 15th total of 1,610,000 shares. Based on an average daily trading volume, of 426,400 shares, the short-interest ratio is currently 4.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Loop Capital decreased their price target on Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. DA Davidson lifted their target price on shares of Knife River from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Finally, Oppenheimer upped their price target 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 four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Knife River currently has a consensus rating of “Moderate Buy” and an average target price of $103.75.

Institutional Trading of Knife River

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC grew its position in Knife River by 12.2% in 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 during the period. State Street Corp grew its holdings in shares of Knife River by 1.8% during the third quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after buying an additional 34,646 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Knife River by 2.0% during the third quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock worth $119,561,000 after acquiring an additional 26,198 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of Knife River by 5.3% during the second quarter. Hood River Capital Management LLC now owns 761,001 shares of the company’s stock worth $53,377,000 after acquiring an additional 38,152 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Knife River by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,333 shares of the company’s stock worth $62,513,000 after acquiring an additional 5,791 shares during the last quarter. 80.11% of the stock is owned by institutional investors.

Knife River Trading Up 0.6 %

Shares of Knife River stock traded up $0.64 on Monday, reaching $104.91. 316,460 shares of the company’s stock were exchanged, compared to its average volume of 465,777. The firm’s 50-day moving average is $101.34 and its two-hundred day moving average is $89.43. The company has a market capitalization of $5.94 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.20 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. Knife River has a 52 week low of $62.10 and a 52 week high of $108.39.

Knife River (NYSE:KNF) last posted its quarterly earnings results on Monday, November 4th. The company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.12 billion. During the same quarter in the previous year, the business posted $2.58 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. Sell-side analysts predict that Knife River will post 3.49 EPS for the current fiscal year.

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.