Knowles Corporation (KN) Rating Increased to Sell at BidaskClub
Knowles Corporation (NYSE:KN) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.
A number of other research analysts also recently commented on the company. Zacks Investment Research downgraded Knowles Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Dougherty & Co started coverage on Knowles Corporation in a research note on Thursday, June 8th. They issued a “buy” rating and a $22.00 price target for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Knowles Corporation presently has a consensus rating of “Hold” and an average target price of $18.33.
Knowles Corporation (NYSE:KN) traded up 0.89% on Friday, hitting $14.73. 882,267 shares of the stock traded hands. The stock has a 50-day moving average of $15.49 and a 200-day moving average of $17.55. Knowles Corporation has a 12-month low of $13.32 and a 12-month high of $19.90. The firm’s market cap is $1.32 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, beating the Zacks’ consensus estimate of $0.11 by $0.02. The business had revenue of $190.20 million during the quarter, compared to the consensus estimate of $190.24 million. Knowles Corporation had a positive return on equity of 6.98% and a negative net margin of 2.44%. Knowles Corporation’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 earnings per share. Analysts forecast that Knowles Corporation will post $0.95 earnings per share for the current year.
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In other Knowles Corporation news, insider Michael S. Polacek bought 3,246 shares of the stock in a transaction on Friday, August 4th. The stock was purchased at an average price of $15.40 per share, with a total value of $49,988.40. Following the completion of the purchase, the insider now owns 42,866 shares in the company, valued at $660,136.40. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Knowles Corporation by 1.5% in the first quarter. State Street Corp now owns 2,760,302 shares of the communications equipment provider’s stock valued at $52,307,000 after buying an additional 39,791 shares during the period. Bank of Montreal Can boosted its stake 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 valued at $172,000 after buying an additional 562 shares during the period. Royce & Associates LP boosted its stake in Knowles Corporation by 10.8% in the first quarter. Royce & Associates LP now owns 674,677 shares of the communications equipment provider’s stock valued at $12,785,000 after buying an additional 66,000 shares during the period. Goldman Sachs Group Inc. boosted its stake in Knowles Corporation by 60.3% in the first quarter. Goldman Sachs Group Inc. now owns 356,191 shares of the communications equipment provider’s stock valued at $6,750,000 after buying an additional 133,981 shares during the period. Finally, Trexquant Investment LP purchased a new stake in Knowles Corporation during the first quarter valued at $277,000.
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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