Knife River Co. (NYSE:KNF) Sees Significant Growth in Short Interest

Knife River Co. (NYSE:KNF) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,570,000 shares, a growth of 7.5% from the August 15th total of 1,460,000 shares. Based on an average daily trading volume, of 383,200 shares, the days-to-cover ratio is presently 4.1 days.

Knife River Stock Up 4.3 %

Shares of NYSE:KNF opened at $87.62 on Tuesday. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 1.92 and a beta of 0.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.51 and a quick ratio of 1.49. The business’s 50-day moving average is $76.59 and its 200-day moving average is $75.51. Knife River has a 1 year low of $46.51 and a 1 year high of $88.24.

Knife River (NYSE:KNF) last issued its earnings results on Tuesday, August 6th. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.13. Knife River had a return on equity of 15.73% and a net margin of 6.88%. The business had revenue of $806.90 million during the quarter, compared to analyst estimates of $803.81 million. During the same period in the previous year, the company posted $1.00 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts predict that Knife River will post 3.72 earnings per share for the current year.

Institutional Trading of Knife River

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new stake in Knife River in the 2nd quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Knife River during the 2nd quarter worth approximately $43,000. 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. DekaBank Deutsche Girozentrale bought a new stake in Knife River during the 2nd quarter worth approximately $96,000. Finally, Horan Capital Advisors LLC. bought a new stake in Knife River during the 1st quarter worth approximately $203,000. 80.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Stephens initiated coverage on Knife River in a research note on Tuesday, June 18th. They issued an “overweight” rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Knife River has a consensus rating of “Moderate Buy” and an average price target of $81.60.

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.