Wells Fargo & Company Initiates Coverage on Knife River (NYSE:KNF)

Analysts at Wells Fargo & Company started coverage on shares of Knife River (NYSE:KNF) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $102.00 price target on the stock. Wells Fargo & Company‘s target price points to a potential upside of 15.90% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Stephens reiterated an “overweight” rating and set a $120.00 target price on shares of Knife River in a research note on Friday, February 14th. Oppenheimer lifted their price objective on shares of Knife River from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $110.40.

Knife River Trading Down 0.5 %

Shares of KNF stock opened at $88.01 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.64 and a current ratio of 2.67. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 2.36 and a beta of 0.88. Knife River has a 52-week low of $66.13 and a 52-week high of $108.83. The company has a 50-day simple moving average of $99.67 and a two-hundred day simple moving average of $95.38.

Knife River (NYSE:KNF) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. The company had revenue of $657.20 million during the quarter, compared to the consensus estimate of $655.80 million. Knife River had a return on equity of 14.82% and a net margin of 6.96%. Research analysts anticipate that Knife River will post 4.11 EPS for the current fiscal year.

Institutional Trading of Knife River

A number of institutional investors have recently modified their holdings of the business. State Street Corp raised its holdings in Knife River by 1.8% during the 3rd quarter. State Street Corp now owns 2,003,069 shares of the company’s stock valued at $179,054,000 after acquiring an additional 34,646 shares during the period. Capital Research Global Investors grew its position in shares of Knife River by 45.2% in the fourth quarter. Capital Research Global Investors now owns 1,936,532 shares of the company’s stock valued at $196,829,000 after purchasing an additional 603,170 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Knife River by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,337,273 shares of the company’s stock valued at $119,561,000 after purchasing an additional 26,198 shares during the period. Alliancebernstein L.P. lifted its holdings in Knife River by 830.7% during the 4th quarter. Alliancebernstein L.P. now owns 1,101,588 shares of the company’s stock worth $111,965,000 after purchasing an additional 983,223 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in Knife River by 1.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 1,034,246 shares of the company’s stock worth $105,121,000 after purchasing an additional 17,234 shares during the period. 80.11% of the stock is currently 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.