Knife River (NYSE:KNF) Shares Gap Up – Here’s What Happened

Knife River Co. (NYSE:KNF) shares gapped up before the market opened on Thursday . The stock had previously closed at $97.26, but opened at $104.05. Knife River shares last traded at $100.40, with a volume of 44,331 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have commented on KNF shares. Loop Capital dropped their price objective on shares of Knife River from $105.00 to $100.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. DA Davidson increased their price objective on shares of Knife River from $90.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Oppenheimer increased their price objective on shares of Knife River from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Stephens reissued an “overweight” rating and set a $120.00 price objective on shares of Knife River in a report on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.50.

Knife River Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.91 and a current ratio of 2.72. The stock’s fifty day moving average is $102.39 and its 200 day moving average is $92.82. The stock has a market cap of $5.77 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.41 and a beta of 0.76.

Knife River (NYSE:KNF) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Knife River had a net margin of 6.89% and a return on equity of 15.22%. As a group, equities research analysts predict that Knife River Co. will post 3.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in shares of Knife River by 129.4% during the third quarter. GAMMA Investing LLC now owns 312 shares of the company’s stock valued at $28,000 after buying an additional 176 shares during the period. CWM LLC boosted its position in shares of Knife River by 53.6% during the third quarter. CWM LLC now owns 5,870 shares of the company’s stock valued at $525,000 after buying an additional 2,049 shares during the period. Creative Planning boosted its position in shares of Knife River by 103.1% during the third quarter. Creative Planning now owns 11,924 shares of the company’s stock valued at $1,066,000 after buying an additional 6,052 shares during the period. AlphaMark Advisors LLC purchased a new position in shares of Knife River during the third quarter valued at approximately $391,000. Finally, Precedent Wealth Partners LLC purchased a new position in shares of Knife River during the third quarter valued at approximately $317,000. Institutional investors own 80.11% of the company’s stock.

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.