Knowles (NYSE:KN) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Knowles from “hold” to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $41.00.
• Knowles reported quarterly EPS of $0.38, beating estimates by $0.02, while revenue of $184 million exceeded expectations and increased 20.3% year over year.
• Shares opened at $34.97, with a market capitalization of approximately $2.96 billion; institutional investors own 96.35% of the company’s stock.

Knowles (NYSE:KN - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday, Zacks reports.

Several other equities analysts also recently commented on KN. Wall Street Zen downgraded shares of Knowles from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings downgraded Knowles from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. Robert W. Baird set a $50.00 price objective on shares of Knowles in a report on Friday, October 23rd. Finally, Susquehanna cut their target price on shares of Knowles from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $41.00.

Knowles Stock Performance

Shares of KN stock opened at $34.97 on Wednesday. The stock has a market cap of $2.96 billion, a P/E ratio of 32.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.94 and a quick ratio of 1.60. The company has a fifty day moving average price of $35.55 and a two-hundred day moving average price of $32.88. Knowles has a one year low of $20.57 and a one year high of $42.93.

Knowles (NYSE:KN - Get Free Report) last posted its earnings results on Thursday, October 22nd. The communications equipment provider reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. Knowles had a return on equity of 11.82% and a net margin of 10.76%. The company had revenue of $184.00 million for the quarter, compared to the consensus estimate of $172.10 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. The firm's revenue for the quarter was up 20.3% on a year-over-year basis. As a group, equities analysts predict that Knowles will post 1.10 EPS for the current year.

Insider Transactions at Knowles

In other news, Director Cheryl Shavers sold 6,618 shares of Knowles stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $39.27, for a total value of $259,888.86. Following the completion of the transaction, the director owned 35,723 shares in the company, valued at $1,402,842.21. This trade represents a 15.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Knowles

A number of institutional investors have recently added to or reduced their stakes in KN. BlackRock Inc. bought a new stake in shares of Knowles during the 2nd quarter worth approximately $571,614,000. Andar Capital Management HK Ltd purchased a new position in Knowles in the 2nd quarter worth about $117,000,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Knowles in the 2nd quarter worth about $102,398,000. Arrowstreet Capital Limited Partnership lifted its holdings in Knowles by 3.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 809,015 shares of the communications equipment provider's stock valued at $20,776,000 after buying an additional 25,778 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Knowles during the 2nd quarter valued at about $30,158,000. 96.35% of the stock is currently owned by institutional investors.

Knowles Company Profile

Knowles Corporation NYSE: KN is a global manufacturer of advanced electronic components and solutions for audio, communications, medical, industrial and other specialized applications. The company develops products that support sound capture, audio processing, signal management and high-performance connectivity in a range of electronic devices and systems.

Its portfolio includes microelectromechanical systems (MEMS) microphones, audio processors, speakers, receivers, balanced armature drivers and other acoustic components.

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