Short Interest in Knife River Co. (NYSE:KNF) Declines By 6.4%

Knife River Co. (NYSE:KNF) saw a large drop in short interest in July. As of July 31st, there was short interest totalling 1,460,000 shares, a drop of 6.4% from the July 15th total of 1,560,000 shares. Based on an average daily volume of 422,900 shares, the short-interest ratio is presently 3.5 days.

Analyst Ratings Changes

Separately, Stephens began coverage on Knife River in a research report on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.60.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of Knife River in the 2nd quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Knife River in the 2nd quarter valued at approximately $43,000. TFO Wealth Partners LLC grew its stake in shares of Knife River by 38,250.0% in the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock valued at $51,000 after purchasing an additional 765 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Knife River in the 2nd quarter valued at approximately $96,000. Finally, Horan Capital Advisors LLC. purchased a new position in shares of Knife River in the 1st quarter valued at approximately $203,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.

Knife River Trading Down 0.1 %

NYSE:KNF opened at $75.37 on Tuesday. The stock’s 50 day moving average price is $73.47 and its 200 day moving average price is $74.35. The company has a market capitalization of $4.27 billion, a PE ratio of 24.31, a P/E/G ratio of 2.89 and a beta of 0.83. The company has a quick ratio of 1.49, a current ratio of 2.75 and a debt-to-equity ratio of 0.55. Knife River has a 52-week low of $46.51 and a 52-week high of $83.78.

Knife River (NYSE:KNF) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.13. The firm had revenue of $806.90 million for the quarter, compared to the consensus estimate of $803.81 million. Knife River had a return on equity of 14.65% and a net margin of 6.19%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, research analysts anticipate that Knife River will post 3.51 EPS for the current year.

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.