Knowles (KN) Price Target Cut to $17.00 by Analysts at Lake Street Capital

Knowles (NYSE:KN) had its target price lowered by equities research analysts at Lake Street Capital from $19.00 to $17.00 in a report released on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Lake Street Capital’s price objective points to a potential upside of 24.36% from the company’s previous close.

Other analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Knowles from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, October 24th. Robert W. Baird reaffirmed a “buy” rating and set a $20.00 price objective on shares of Knowles in a research note on Friday, October 27th. Finally, Piper Jaffray Companies initiated coverage on shares of Knowles in a research note on Wednesday, December 20th. They set a “neutral” rating and a $15.50 price objective for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Knowles presently has a consensus rating of “Hold” and a consensus price target of $18.08.

Knowles (NYSE KN) traded up $0.28 during midday trading on Thursday, hitting $13.67. 917,411 shares of the stock traded hands, compared to its average volume of 955,620. Knowles has a one year low of $13.10 and a one year high of $19.90. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1,198.29, a price-to-earnings ratio of 18.47, a P/E/G ratio of 1.81 and a beta of 0.78.

Knowles (NYSE:KN) last posted its quarterly earnings results on Wednesday, February 7th. The communications equipment provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.07. Knowles had a net margin of 8.32% and a return on equity of 6.28%. The company had revenue of $215.50 million for the quarter, compared to analyst estimates of $221.96 million. During the same quarter in the previous year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. equities research analysts expect that Knowles will post 0.74 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Baird Financial Group Inc. purchased a new position in Knowles during the fourth quarter valued at approximately $3,040,000. Royce & Associates LP grew its stake in Knowles by 8.5% during the fourth quarter. Royce & Associates LP now owns 1,109,950 shares of the communications equipment provider’s stock valued at $16,272,000 after acquiring an additional 86,500 shares in the last quarter. BlackRock Inc. grew its stake in Knowles by 1.0% during the fourth quarter. BlackRock Inc. now owns 9,371,743 shares of the communications equipment provider’s stock valued at $137,389,000 after acquiring an additional 92,190 shares in the last quarter. Arizona State Retirement System grew its stake in Knowles by 26.9% during the fourth quarter. Arizona State Retirement System now owns 64,358 shares of the communications equipment provider’s stock valued at $943,000 after acquiring an additional 13,645 shares in the last quarter. Finally, Eagle Boston Investment Management Inc. grew its stake in Knowles by 16.2% during the fourth quarter. Eagle Boston Investment Management Inc. now owns 530,795 shares of the communications equipment provider’s stock valued at $7,781,000 after acquiring an additional 73,995 shares in the last quarter.

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About Knowles

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).

Analyst Recommendations for Knowles (NYSE:KN)

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