Shares of Knife River Co. (NYSE:KNF – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $55.39 and last traded at $54.54, with a volume of 24467 shares traded. The stock had previously closed at $53.86.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Oppenheimer initiated coverage on shares of Knife River in a research report on Monday, August 14th. They issued an “outperform” rating and a $65.00 target price on the stock. DA Davidson increased their price target on Knife River from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th.
Read Our Latest Research Report on KNF
Knife River Stock Performance
Knife River (NYSE:KNF – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.42. The business had revenue of $785.20 million for the quarter, compared to the consensus estimate of $754.60 million. During the same period in the previous year, the firm earned $0.68 earnings per share. The company’s revenue was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Knife River Co. will post 2.42 EPS for the current year.
Institutional Trading of Knife River
Institutional investors and hedge funds have recently bought and sold shares of the stock. New Mexico Educational Retirement Board bought a new stake in shares of Knife River in the 2nd quarter valued at about $444,000. Shell Asset Management Co. acquired a new stake in Knife River during the 2nd quarter valued at approximately $184,000. Simplicity Solutions LLC bought a new position in Knife River during the 2nd quarter worth approximately $519,000. Bank of Nova Scotia acquired a new position in shares of Knife River in the 2nd quarter worth approximately $8,904,000. Finally, Avantax Planning Partners Inc. bought a new stake in shares of Knife River in the 2nd quarter valued at $348,000. 67.14% of the stock is currently owned by institutional investors and hedge funds.
Knife River Company Profile
Knife River Corporation provides aggregates-based construction materials and contracting services in the United States. It operates through six segments: Pacific, Northwest, Mountain, North Central, South, and Energy Services. The company mines, processes, and sells construction aggregates, including crushed stone and sand, and gravel; and produces and sells asphalt and ready-mix concrete, as well as provides contracting services to support the aggregate-based product lines, including heavy-civil construction, asphalt and concrete paving, and site development and grading.
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