Knife River (NYSE:KNF) Shares Gap Down After Earnings Miss

Knife River Co. (NYSE:KNF) shares gapped down prior to trading on Tuesday following a weaker than expected earnings announcement. The stock had previously closed at $80.77, but opened at $74.00. Knife River shares last traded at $76.57, with a volume of 46,711 shares changing hands.

The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.04). The company had revenue of $329.60 million during the quarter, compared to the consensus estimate of $300.98 million. Knife River had a return on equity of 15.98% and a net margin of 6.46%. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($516.50) earnings per share.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KNF. Oppenheimer increased their price target on shares of Knife River from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Loop Capital initiated coverage on shares of Knife River in a research report on Tuesday, February 13th. They set a “buy” rating and a $81.00 price target on the stock. Finally, Wolfe Research initiated coverage on shares of Knife River in a research report on Friday, March 8th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Knife River presently has an average rating of “Moderate Buy” and a consensus price target of $76.20.

Institutional Trading of Knife River

Several hedge funds have recently bought and sold shares of the stock. Financial Management Professionals Inc. bought a new stake in shares of Knife River during the fourth quarter worth $35,000. DekaBank Deutsche Girozentrale acquired a new position in Knife River in the 3rd quarter worth $34,000. TFO Wealth Partners LLC increased its holdings in Knife River by 38,250.0% during the 4th quarter. TFO Wealth Partners LLC now owns 767 shares of the company’s stock worth $51,000 after purchasing an additional 765 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of Knife River in the 4th quarter valued at about $53,000. Finally, Clear Street Markets LLC bought a new stake in shares of Knife River in the third quarter valued at about $59,000. 80.11% of the stock is currently owned by institutional investors and hedge funds.

Knife River Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 1.71. The company has a market capitalization of $4.40 billion and a price-to-earnings ratio of -0.15. The firm has a 50-day moving average price of $78.07 and a two-hundred day moving average price of $67.97.

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.