Knowles Corp. (KN) Trading Down 14.2%
Knowles Corp. (NYSE:KN)’s share price dropped 14.2% during trading on Wednesday . The stock traded as low as $13.68 and last traded at $13.90, with a volume of 1,993,565 shares trading hands. The stock had previously closed at $16.20.
Several equities research analysts have weighed in on KN shares. Lake Street Capital raised their price target 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 raised Knowles Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Thursday, April 28th. Benchmark Co. assumed coverage on Knowles Corp. in a research report on Wednesday, June 29th. They set a “hold” rating and a $15.00 price objective for the company. Robert W. Baird reissued a “neutral” rating and issued a $15.00 price target (up from $11.00) on shares of Knowles Corp. in a report on Tuesday, April 26th. Finally, Topeka Capital Markets raised their price target on Knowles Corp. from $15.00 to $20.00 and gave the company 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 assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.78.
The firm’s 50 day moving average is $14.83 and its 200 day moving average is $13.28. The stock’s market capitalization is $1.25 billion.
Knowles Corp. (NYSE:KN) last posted its earnings results on Tuesday, July 26th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.02. The business had revenue of $190.30 million for the quarter, compared to analyst estimates of $189.88 million. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Knowles Corp. will post $0.87 EPS for the current year.
Other hedge funds and institutional investors have made changes to their positions in the company. Comerica Bank boosted its position in shares of 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 in the last quarter. Tributary Capital Management LLC purchased a new stake in Knowles Corp. during the fourth quarter valued at $1,612,000. California State Teachers Retirement System raised its stake 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 valued at $2,157,000 after buying an additional 2,594 shares during the last quarter. Rhumbline Advisers raised its stake in Knowles Corp. by 1.7% in the fourth quarter. Rhumbline Advisers now owns 193,418 shares of the company’s stock valued at $2,578,000 after buying an additional 3,140 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Knowles Corp. by 0.9% in the fourth quarter. Nationwide Fund Advisors now owns 198,600 shares of the company’s stock valued at $2,647,000 after buying an additional 1,847 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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