Knife River (NYSE:KNF) Shares Gap Down – Time to Sell?

Shares of Knife River Co. (NYSE:KNF) gapped down before the market opened on Tuesday . The stock had previously closed at $100.67, but opened at $98.31. Knife River shares last traded at $98.81, with a volume of 6,785 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Knife River from $102.00 to $114.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Stephens reaffirmed an “overweight” rating and issued a $120.00 price target on shares of Knife River in a research report on Friday, February 14th. Five equities 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 price target of $112.80.

Knife River Stock Down 2.1%

The company has a current ratio of 2.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $92.79 and its 200 day moving average price is $97.46. The company has a market capitalization of $5.58 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.36 and a beta of 0.96.

Knife River (NYSE:KNF) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($1.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.32). Knife River had a net margin of 6.96% and a return on equity of 14.82%. The company had revenue of $353.50 million for the quarter, compared to analyst estimates of $343.98 million. During the same period in the previous year, the firm posted ($0.84) earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, equities research analysts predict that Knife River Co. will post 4.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Knife River

A number of hedge funds and other institutional investors have recently bought and sold shares of KNF. Fifth Third Bancorp boosted its position in shares of Knife River by 19.1% in the 1st quarter. Fifth Third Bancorp now owns 661 shares of the company’s stock worth $60,000 after purchasing an additional 106 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Knife River by 0.8% in the fourth quarter. Arizona State Retirement System now owns 15,609 shares of the company’s stock worth $1,586,000 after purchasing an additional 124 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Knife River by 58.6% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares in the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in Knife River by 2.0% during the first quarter. Focus Partners Advisor Solutions LLC now owns 8,004 shares of the company’s stock worth $722,000 after acquiring an additional 159 shares in the last quarter. Finally, Greenleaf Trust boosted its position in Knife River by 6.7% during the first quarter. Greenleaf Trust now owns 2,567 shares of the company’s stock valued at $232,000 after purchasing an additional 162 shares during the last quarter. 80.11% of the stock is owned by institutional investors and hedge funds.

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.