Knowles Corp. (KN) Trading 2.5% Higher
Knowles Corp. (NYSE:KN) traded up 2.5% on Thursday . The stock traded as high as $13.59 and last traded at $13.25, with a volume of 352,912 shares. The stock had previously closed at $12.93.
Several equities research analysts have weighed in on the company. Lake Street Capital upped their target price on Knowles Corp. from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. Zacks Investment Research upgraded Knowles Corp. from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Thursday, April 28th. Robert W. Baird restated a “neutral” rating and set a $15.00 target price (up from $11.00) on shares of Knowles Corp. in a research note on Tuesday, April 26th. Benchmark Co. assumed coverage on Knowles Corp. in a research note on Wednesday, June 29th. They set a “hold” rating and a $15.00 target price for the company. Finally, Topeka Capital Markets upped their target price on Knowles Corp. from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, April 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $17.78.
The stock has a 50-day moving average of $14.35 and a 200 day moving average of $13.09. The company’s market capitalization is $1.18 billion.
Knowles Corp. (NYSE:KN) last released its quarterly earnings data on Monday, April 25th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. During the same quarter in the prior year, the firm posted $0.06 earnings per share. The business earned $185.30 million during the quarter, compared to analysts’ expectations of $180.32 million. The firm’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts anticipate that Knowles Corp. will post $0.87 earnings per share for the current year.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the stock. Comerica Bank raised its position in Knowles Corp. by 4.0% in the fourth quarter. Comerica Bank now owns 81,641 shares of the company’s stock worth $1,034,000 after buying an additional 3,106 shares during the period. Retirement Systems of Alabama raised its position in Knowles Corp. by 1.4% in the fourth quarter. Retirement Systems of Alabama now owns 113,640 shares of the company’s stock worth $1,515,000 after buying an additional 1,577 shares during the period. Tributary Capital Management LLC purchased a new position in Knowles Corp. during the fourth quarter worth approximately $1,612,000. Morgan Stanley raised its position in Knowles Corp. by 193.8% in the fourth quarter. Morgan Stanley now owns 153,238 shares of the company’s stock worth $2,043,000 after buying an additional 101,078 shares during the period. Finally, California State Teachers Retirement System raised its position in Knowles Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 161,780 shares of the company’s stock worth $2,157,000 after buying an additional 2,594 shares during the period.
Knowles Corporation (Knowles) is a supplier of micro-acoustic solutions and specialty components serving the mobile communications, consumer electronics, medical technology, military, aerospace and industrial markets. The Company operates micro-electro-mechanical systems (MEMS) microphones, speakers and receivers which are used in smartphones, tablets and mobile handsets.
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