Knowles (NYSE:KN) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Knowles (NYSE:KN) from a hold rating to a strong-buy rating in a report released on Wednesday,Zacks reports.

A number of other research analysts have also recently weighed in on KN. Weiss Ratings cut shares of Knowles from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Wall Street Zen lowered shares of Knowles from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Susquehanna dropped their price target on shares of Knowles from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. Finally, Robert W. Baird set a $50.00 price target on shares of Knowles in a report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Knowles currently has a consensus rating of “Moderate Buy” and an average price target of $41.00.

Knowles Trading Up 0.6%

Shares of KN stock opened at $34.97 on Wednesday. Knowles has a 1 year low of $20.57 and a 1 year high of $42.93. 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 stock’s 50 day simple moving average is $35.55 and its two-hundred day simple moving average is $32.88. The company has a market cap of $2.96 billion, a PE ratio of 42.64 and a beta of 1.59.

Knowles (NYSE:KN) last announced its earnings results on Thursday, October 22nd. The communications equipment provider reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $172.10 million. Knowles had a return on equity of 11.82% and a net margin of 10.76%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 EPS. Research analysts predict that Knowles will post 1.10 earnings per share for the current year.

Insiders Place Their Bets

In other Knowles news, Director Cheryl Shavers sold 6,618 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $39.27, for a total value of $259,888.86. Following the sale, 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 SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KN. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Knowles in the third quarter worth about $301,000. Choreo LLC grew its holdings in Knowles by 6.0% during the 3rd quarter. Choreo LLC now owns 15,379 shares of the communications equipment provider’s stock worth $571,000 after acquiring an additional 868 shares in the last quarter. Signaturefd LLC increased its position in Knowles by 5.5% during the 3rd quarter. Signaturefd LLC now owns 6,116 shares of the communications equipment provider’s stock valued at $227,000 after purchasing an additional 318 shares during the period. Tectonic Advisors LLC increased its position in Knowles by 34.3% during the 3rd quarter. Tectonic Advisors LLC now owns 34,599 shares of the communications equipment provider’s stock valued at $1,285,000 after purchasing an additional 8,828 shares during the period. Finally, Inspire Investing LLC raised its holdings in shares of Knowles by 5.6% in the 3rd quarter. Inspire Investing LLC now owns 17,066 shares of the communications equipment provider’s stock valued at $634,000 after purchasing an additional 911 shares in the last quarter. 96.35% of the stock is currently owned by institutional investors.

About Knowles

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.