Knowles (NYSE:KN) Stock Breaks Below Two Hundred Day Moving Average – Here’s Why

Knowles Corporation (NYSE:KN) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $33.10 and traded as low as $30.22. Knowles shares last traded at $30.3420, with a volume of 1,128,301 shares.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on KN shares. Robert W. Baird set a $50.00 target price on Knowles in a report on Friday, October 23rd. Wall Street Zen cut Knowles from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research upgraded Knowles from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 28th. Weiss Ratings cut Knowles from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Finally, Susquehanna reduced their price target on Knowles from $40.00 to $35.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Knowles Stock Performance

The company has a market capitalization of $2.57 billion, a P/E ratio of 37.00 and a beta of 1.60. The company’s 50 day moving average is $35.46 and its 200-day moving average is $33.10. The company has a current ratio of 2.94, a quick ratio of 1.60 and a debt-to-equity ratio of 0.15.

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

Insider Activity

In other news, Director Cheryl Shavers sold 6,618 shares of the business’s stock in a transaction that occurred 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 directly owned 35,723 shares of the company’s stock, valued at $1,402,842.21. The trade was a 15.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Knowles in the second quarter worth $571,614,000. Andar Capital Management HK Ltd bought a new position in shares of Knowles during the second quarter valued at $117,000,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Knowles during the second quarter valued at $102,398,000. Conestoga Capital Advisors LLC increased its holdings in shares of Knowles by 41.6% during the third quarter. Conestoga Capital Advisors LLC now owns 1,319,834 shares of the communications equipment provider’s stock valued at $49,032,000 after acquiring an additional 387,785 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Knowles in the 2nd quarter worth about $30,158,000. Hedge funds and other institutional investors own 96.35% of the company’s stock.

Knowles Company Profile

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.