Knowles Corporation (KN) Upgraded at Zacks Investment Research
Knowles Corporation (NYSE:KN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $17.00 target price on the communications equipment provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 6.99% from the stock’s previous close.
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. “
Separately, BidaskClub cut Knowles Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.75.
Knowles Corporation (KN) traded up 2.85% on Tuesday, hitting $15.89. 595,724 shares of the company traded hands. Knowles Corporation has a 1-year low of $14.08 and a 1-year high of $19.90. The firm’s 50 day moving average price is $15.35 and its 200 day moving average price is $16.48. The firm’s market capitalization is $1.42 billion.
Knowles Corporation (NYSE:KN) last posted its quarterly earnings results on Wednesday, July 26th. The communications equipment provider reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.02. Knowles Corporation had a positive return on equity of 6.98% and a negative net margin of 2.44%. The company had revenue of $190.20 million for the quarter, compared to analysts’ expectations of $190.24 million. During the same period in the previous year, the firm earned $0.13 EPS. The firm’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that Knowles Corporation will post $0.92 EPS for the current fiscal year.
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In other Knowles Corporation news, insider Michael S. Polacek purchased 3,246 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were bought at an average cost of $15.40 per share, with a total value of $49,988.40. Following the acquisition, the insider now owns 42,866 shares in the company, valued at $660,136.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Creative Planning increased its stake in Knowles Corporation by 0.6% in the 3rd quarter. Creative Planning now owns 97,418 shares of the communications equipment provider’s stock worth $1,369,000 after acquiring an additional 568 shares during the last quarter. BB&T Corp increased its stake in Knowles Corporation by 44.4% in the 4th quarter. BB&T Corp now owns 307,808 shares of the communications equipment provider’s stock worth $4,103,000 after acquiring an additional 94,623 shares during the last quarter. BlackRock Investment Management LLC increased its stake in Knowles Corporation by 0.4% in the 3rd quarter. BlackRock Investment Management LLC now owns 585,587 shares of the communications equipment provider’s stock worth $8,227,000 after acquiring an additional 2,180 shares during the last quarter. Rhumbline Advisers increased its stake in Knowles Corporation by 1.7% in the 4th quarter. Rhumbline Advisers now owns 193,418 shares of the communications equipment provider’s stock worth $2,578,000 after acquiring an additional 3,140 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Knowles Corporation by 53.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,140,962 shares of the communications equipment provider’s stock worth $35,776,000 after acquiring an additional 749,385 shares during the last quarter.
About Knowles Corporation
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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