Knowles Corp. (KN) Shares Up 3.2%
Knowles Corp. (NYSE:KN) shares shot up 3.2% on Thursday . The stock traded as high as $15.65 and last traded at $15.60, with a volume of 309,505 shares. The stock had previously closed at $15.11.
Several research firms have weighed in on KN. Benchmark Co. began coverage on Knowles Corp. in a research note on Wednesday, June 29th. They issued a “hold” rating and a $15.00 price target for the company. Zacks Investment Research cut Knowles Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Robert W. Baird reaffirmed a “neutral” rating and set a $15.00 price objective (up from $11.00) on shares of Knowles Corp. in a report on Tuesday, April 26th. Lake Street Capital upped their price objective on Knowles Corp. from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. Finally, Topeka Capital Markets upped their price objective on Knowles Corp. from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.78.
The company’s market cap is $1.37 billion. The firm’s 50 day moving average is $14.65 and its 200-day moving average is $13.16.
Knowles Corp. (NYSE:KN) last announced its quarterly earnings results on Monday, April 25th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.05. During the same quarter in the prior year, the business posted $0.06 earnings per share. The company had revenue of $185.30 million for the quarter, compared to analysts’ expectations of $180.32 million. The firm’s revenue was down .7% compared to the same quarter last year. Equities research analysts forecast that Knowles Corp. will post $0.87 earnings per share for the current fiscal year.
A number of hedge funds have modified their holdings of the stock. Comerica Bank raised its stake in shares of Knowles Corp. by 4.0% in the fourth quarter. Comerica Bank now owns 81,641 shares of the company’s stock valued at $1,034,000 after buying an additional 3,106 shares during the last quarter. Retirement Systems of Alabama raised its stake in shares of Knowles Corp. by 1.4% in the fourth quarter. Retirement Systems of Alabama now owns 113,640 shares of the company’s stock valued at $1,515,000 after buying an additional 1,577 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in shares of Knowles Corp. during the fourth quarter valued at approximately $1,612,000. Morgan Stanley raised its stake in shares of Knowles Corp. by 193.8% in the fourth quarter. Morgan Stanley now owns 153,238 shares of the company’s stock valued at $2,043,000 after buying an additional 101,078 shares during the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Knowles Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 161,780 shares of the company’s stock valued at $2,157,000 after buying an additional 2,594 shares during the last quarter.
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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