Knowles Corporation (KN) Lifted to Hold at Zacks Investment Research
Knowles Corporation (NYSE:KN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Knowles Corporation operates as a supplier of advanced micro-acoustic, specialty components, and human interface solutions. The Company designs and manufactures acoustic products, including microphones, speakers, and receivers for the handset, tablet, and other consumer electronic markets. It also designs and manufactures electronic components used in medical and life science applications and solutions and components used in communications infrastructure and various other markets. Knowles Corporation is headquartered in Itasca, Illinois. “
A number of other research firms have also commented on KN. BidaskClub lowered shares of Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. Dougherty & Co initiated coverage on shares of Knowles Corporation in a research report on Thursday, June 8th. They issued a “buy” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Knowles Corporation has an average rating of “Hold” and an average target price of $19.00.
Shares of Knowles Corporation (NYSE KN) opened at 15.31 on Wednesday. The stock’s market capitalization is $1.37 billion. Knowles Corporation has a one year low of $13.32 and a one year high of $19.90. The stock’s 50 day moving average is $14.86 and its 200-day moving average is $17.05.
Knowles Corporation (NYSE:KN) last posted its quarterly earnings data on Wednesday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Knowles Corporation had a negative net margin of 2.44% and a positive return on equity of 6.98%. The company had revenue of $190.20 million during the quarter, compared to analyst estimates of $190.24 million. During the same period in the prior year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, equities research analysts expect that Knowles Corporation will post $0.92 EPS for the current year.
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In other news, insider Michael S. Polacek acquired 3,246 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $15.40 per share, for a total transaction of $49,988.40. Following the completion of the acquisition, the insider now owns 42,866 shares of the company’s stock, valued at approximately $660,136.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its holdings in Knowles Corporation by 17.9% in the second quarter. LS Investment Advisors LLC now owns 6,953 shares of the communications equipment provider’s stock worth $118,000 after buying an additional 1,056 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in Knowles Corporation by 88.1% in the second quarter. Riverhead Capital Management LLC now owns 6,959 shares of the communications equipment provider’s stock worth $118,000 after buying an additional 3,259 shares during the last quarter. Bank of Montreal Can increased its holdings in Knowles Corporation by 6.6% in the first quarter. Bank of Montreal Can now owns 9,048 shares of the communications equipment provider’s stock worth $172,000 after buying an additional 562 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Knowles Corporation by 31.5% in the first quarter. Canada Pension Plan Investment Board now owns 9,600 shares of the communications equipment provider’s stock worth $182,000 after buying an additional 2,300 shares during the last quarter. Finally, ING Groep NV acquired a new position in Knowles Corporation in the second quarter worth approximately $184,000.
Knowles Corporation Company Profile
Knowles Corporation is a global supplier of micro-acoustic, audio processing and specialty component solutions, serving the mobile consumer electronics, communications, medical, military, aerospace and industrial markets. The Company operates through two segments: Mobile Consumer Electronics (MCE) and Specialty Components (SC).
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