Knife River Corporation
KNF · NYSE
Company research
Knife River Corporation (NYSE: KNF) is an aggregates-led, vertically integrated construction materials and contracting services company headquartered in Bismarck, North Dakota, founded in 1917 and spun off from MDU Resources Group in June 2023. The company mines and markets crushed stone, sand, gravel, ready-mix concrete, asphalt, and related building materials, while also performing heavy-civil contracting services including paving, grading, and site development, primarily for publicly funded infrastructure projects such as highways, bridges, and airports. Operating across six segments — Pacific, Northwest, Mountain, North Central, South, and Energy Services — Knife River holds the number one or two market position in approximately 90% of its served markets across roughly 15 U.S. states, and ranks among the top 10 aggregate, ready-mix, and sand and gravel producers nationally. With approximately $2.9 billion in 2025 revenue, a market capitalization of approximately $4.7 billion, and a record backlog of $1.2 billion, the company continues to pursue an aggressive acquisition strategy to expand its geographic footprint and operational scale under CEO Brian R. Gray.
Research reports
Synthesizes seven third-party analyst ratings into a Buy consensus with a $97.14 twelve‑month price target and frames Knife River as a vertically integrated construction materials and contracting name with a multi‑year margin‑improvement story driven by self‑help initiatives, pricing discipline, and growth capex, while flagging weather variability and the cyclicality of public contracting budgets as key risks to execution.
StockUpside.io · June 23, 2026KNF — 19.0% Analyst UpsideAggregates nine Wall Street analysts’ price targets into a $104.11 consensus (about 19% implied upside) with a Buy consensus rating, highlighting KNF’s $5B market cap, 34x trailing P/E, 20.3% year‑to‑date share price gain, and positioning in Basic Materials, while implicitly noting valuation sensitivity via a bull target of $125 and bear target of $80.
Simply Wall St · June 21, 2026Knife River (KNF) Stock Could Be 17.2% Undervalued After Earnings Estimates ImprovedPresents a structured fundamental analysis indicating Knife River may be materially undervalued relative to updated earnings estimates, combining valuation metrics, growth forecasts, and capital efficiency data with narrative commentary that emphasizes backlog strength, exposure to U.S. infrastructure spending, and improving margin trends, while acknowledging leverage and sector cyclicality as ongoing risk factors.
Convexity Labs · June 13, 2026KNIFE RIVER CORPORATION (KNF) — ANALYST NOTETactical “Margin Inflector” analyst note that assigns a Buy judgment with medium conviction, building a thesis around a record $1.2B backlog with roughly 75% expected completion in 2026, guided ≥200 bps margin expansion from increased self‑performed paving and pricing, and strong exposure to record state DOT budgets, while explicitly detailing invalidation levels on the chart (e.g., failure to break out above $108.83 or a close below $70.28) and execution risks such as delayed IIJA spend or margin compression.
Intellectia AI · March 13, 2026Should You Buy Knife River Corp (KNF) Today? Analysis, Price Targets, and 2026 Outlook.Provides an AI‑driven, analyst‑style “Should I buy?” report that concludes KNF is a Hold for a long‑term retail investor, citing bearish technical momentum (negative and expanding MACD, support near 78.35), mixed catalysts (constructive price‑target hikes from DA Davidson, RBC, and Stephens versus a Wells Fargo downgrade on valuation and backlog quality concerns), and fundamentally mixed Q3 2025 results with high single‑digit revenue growth but declining margins, EPS, and net income.