Knowles (KN) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Knowles (NYSE:KN) from a sell rating to a hold rating in a research report released on Wednesday morning.

According to Zacks, “Knowles Corporation operates as a supplier of advanced micro-acoustic, specialty components, and human interface solutions. The Company designs and manufactures acoustic products, including microphones, speakers, and receivers for the handset, tablet, and other consumer electronic markets. It also designs and manufactures electronic components used in medical and life science applications and solutions and components used in communications infrastructure and various other markets. Knowles Corporation is headquartered in Itasca, Illinois. “

Several other brokerages also recently commented on KN. ValuEngine raised Knowles from a strong sell rating to a sell rating in a report on Thursday, May 17th. Craig Hallum reissued a buy rating and issued a $16.00 target price (down from $17.00) on shares of Knowles in a report on Monday, April 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Knowles from $16.00 to $13.50 and set a neutral rating on the stock in a report on Tuesday, April 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Knowles presently has a consensus rating of Hold and a consensus price target of $16.50.

Shares of Knowles opened at $15.87 on Wednesday, according to Marketbeat. The company has a market capitalization of $1.43 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.52 and a current ratio of 2.56. Knowles has a one year low of $10.94 and a one year high of $17.73.

Knowles (NYSE:KN) last announced its earnings results on Thursday, April 26th. The communications equipment provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $178.50 million during the quarter, compared to analyst estimates of $178.93 million. Knowles had a return on equity of 5.95% and a net margin of 8.83%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.12 earnings per share. sell-side analysts expect that Knowles will post 0.67 EPS for the current fiscal year.

In related news, CEO Jeffrey Niew acquired 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was purchased at an average price of $12.37 per share, for a total transaction of $30,925.00. Following the transaction, the chief executive officer now directly owns 336,455 shares of the company’s stock, valued at approximately $4,161,948.35. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Didier Hirsch acquired 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was bought at an average price of $12.69 per share, with a total value of $88,830.00. The disclosure for this purchase can be found here. Insiders bought a total of 12,858 shares of company stock worth $164,035 over the last three months. 3.70% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Knowles by 3.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 693,189 shares of the communications equipment provider’s stock valued at $10,163,000 after acquiring an additional 20,090 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Knowles by 132.2% during the 4th quarter. SG Americas Securities LLC now owns 41,159 shares of the communications equipment provider’s stock valued at $603,000 after acquiring an additional 23,432 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Knowles during the 4th quarter valued at $170,000. Teacher Retirement System of Texas bought a new stake in shares of Knowles during the 4th quarter valued at $457,000. Finally, California Public Employees Retirement System raised its position in shares of Knowles by 8.1% during the 4th quarter. California Public Employees Retirement System now owns 244,174 shares of the communications equipment provider’s stock valued at $3,580,000 after acquiring an additional 18,368 shares during the last quarter.

About Knowles

Knowles Corporation designs, manufactures, and sells micro-acoustic, audio processing, and precision device solutions to the mobile consumer electronics, industrial, defense, aerospace medical, and telecommunications markets worldwide. The company operates in two segments, Audio and Precision Devices.

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