Knowles Corp. (KN) Now Covered by Susquehanna
Equities researchers at Susquehanna began coverage on shares of Knowles Corp. (NYSE:KN) in a report released on Tuesday. The firm set a $12.00 price target on the stock. Susquehanna’s target price would indicate a potential downside of 16.49% from the stock’s current price.
A number of other brokerages also recently weighed in on KN. JPMorgan Chase & Co. started coverage on shares of Knowles Corp. in a report on Tuesday, September 6th. They issued a “neutral” rating and a $15.00 price target for the company. Zacks Investment Research upgraded shares of Knowles Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Friday, July 29th. Finally, Benchmark Co. assumed coverage on shares of Knowles Corp. in a research note on Wednesday, June 29th. They issued a “hold” rating and a $15.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Knowles Corp. presently has an average rating of “Buy” and an average price target of $17.00.
Shares of Knowles Corp. (NYSE:KN) opened at 14.37 on Tuesday. Knowles Corp. has a 12 month low of $9.68 and a 12 month high of $22.33. The company’s market cap is $1.27 billion. The company’s 50 day moving average is $13.90 and its 200-day moving average is $13.82.
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Knowles Corp. (NYSE:KN) last posted its earnings results on Tuesday, July 26th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The company earned $190.30 million during the quarter, compared to the consensus estimate of $189.88 million. Knowles Corp. had a negative net margin of 26.09% and a positive return on equity of 4.04%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. Analysts expect that Knowles Corp. will post $0.86 EPS for the current fiscal year.
In other news, VP Thomas G. Jackson sold 3,764 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $13.42, for a total value of $50,512.88. Following the transaction, the vice president now owns 32,059 shares of the company’s stock, valued at approximately $430,231.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.49% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC acquired a new position in shares of Knowles Corp. during the second quarter valued at about $553,000. Aristotle Capital Boston LLC raised its position in shares of Knowles Corp. by 4.3% in the second quarter. Aristotle Capital Boston LLC now owns 283,986 shares of the company’s stock valued at $3,885,000 after buying an additional 11,651 shares during the period. Royal Bank of Canada raised its position in shares of Knowles Corp. by 2.2% in the second quarter. Royal Bank of Canada now owns 294,903 shares of the company’s stock valued at $4,033,000 after buying an additional 6,242 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Knowles Corp. by 11.6% in the second quarter. Public Employees Retirement System of Ohio now owns 9,555 shares of the company’s stock valued at $131,000 after buying an additional 994 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Knowles Corp. by 5.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 488,704 shares of the company’s stock valued at $6,686,000 after buying an additional 26,552 shares during the period.
Knowles Corp. Company Profile
Knowles Corporation is a supplier of advanced micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. It uses micro-electro-mechanical systems (MEMS) microphones and audio processing technologies to optimize audio systems and develop the user experience in smartphones, tablets and wearables.
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