Wells Fargo & Company Issues Positive Forecast for Knife River (NYSE:KNF) Stock Price

Knife River (NYSE:KNF) had its price target upped by analysts at Wells Fargo & Company from $96.00 to $97.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 4.33% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Royal Bank Of Canada initiated coverage on shares of Knife River in a research note on Monday, June 16th. They set an “outperform” rating and a $129.00 price objective for the company. DA Davidson reduced their price target on Knife River from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, June 10th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Knife River presently has a consensus rating of “Buy” and an average target price of $114.33.

Knife River Price Performance

KNF stock opened at $92.97 on Monday. The stock has a 50-day moving average price of $83.05 and a two-hundred day moving average price of $90.73. Knife River has a 1 year low of $72.11 and a 1 year high of $108.83. The stock has a market cap of $5.27 billion, a PE ratio of 34.56, a price-to-earnings-growth ratio of 6.44 and a beta of 0.63. The company has a current ratio of 2.78, a quick ratio of 1.57 and a debt-to-equity ratio of 0.92.

Knife River (NYSE:KNF) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.89 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.38). Knife River had a return on equity of 10.58% and a net margin of 5.20%. The firm had revenue of $833.80 million for the quarter, compared to analyst estimates of $902.26 million. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Knife River will post 4.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in Knife River by 15.1% during the fourth quarter. Wells Fargo & Company MN now owns 60,940 shares of the company’s stock worth $6,194,000 after buying an additional 7,975 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Knife River by 12.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 38,236 shares of the company’s stock valued at $3,886,000 after buying an additional 4,205 shares during the period. Bank of Montreal Can lifted its holdings in shares of Knife River by 11.4% during the 4th quarter. Bank of Montreal Can now owns 12,523 shares of the company’s stock worth $1,273,000 after acquiring an additional 1,285 shares during the period. Invesco Ltd. increased its stake in Knife River by 83.7% in the fourth quarter. Invesco Ltd. now owns 879,796 shares of the company’s stock valued at $89,422,000 after acquiring an additional 400,954 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Knife River during the fourth quarter worth $14,600,000. Institutional investors 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.